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Bloomberg
Italy’s government has approved a fourth stimulus package to support businesses hit by the latest restrictions to stem the spread of the coronavirus.
The package is worth 8 billion euros ($9.6 billion), according to a statement published on Monday. It delays tax deadlines for companies and expands cash handouts for workers in tourism and the arts, which have
been severely disrupted by the pandemic.
The euro area’s third-largest economy has struggled to deal with the economic fallout from the pandemic. Saddled with one of the world’s heaviest debt burdens, it has relied on exceptional support from the European Central Bank to tap bond markets.
Italy’s parliament in November backed the government’s
request to swell the nation’s budget deficit by 8 billion euros to fund the additional relief measures.