The Italian Prime Minister, Giuseppe Conte, announced the government is allocating a record $400 billion euros to help families and businesses tackle the economic impact of the coronavirus pandemic.
“This is the most powerful intervention of the story of our country,” Conte said during a televised statement. “200 billion to finance the internal market and another 200 billion to strengthen the export market.”
Speaking after a cabinet meeting, Conte said the government approved the suspension of various tax payments and contributions for the months of April and May.
“We are giving to the country a very efficient instrument to protect all businesses that have even the slightest strategic role in our country,” he said. “This is not only a health emergency but also economic and social at the same time. The April law decree will contain social protection tools, to support families and workers.”
Italy has 132,547 cases of coronavirus and has had 16,523 deaths, according to Johns Hopkins University’s tally of cases.
