802 new cases of coronavirus were registered in Italy over the past 24 hours, meaning that the number of active cases currently stands at 83,324. 165 people died in the past 24 hours, that’s the lowest count since March 14. The total death count has now reached 30,560 while the total number of infections stands at 219,070.
Italy‘s government is readying new measures to support companies struggling due to the coronavirus crisis, including tax incentives and hybrid bonds, and aims to access the European Recovery Fund in the second half of the year, Economy Minister Roberto Gualtieri said on Sunday.
“The State has the duty to intervene to defend and support workers and firms. Nobody wants to state-direct the economy but interventions that protect and at the same time stimulate the productive system are needed,” Gualtieri told newspaper Il Messaggero in an interview.
Italy, one of the countries hardest hit by the epidemic with more than 30,000 deaths, expects its economy to contract by at least 8% this year, the worst recession since World War II.
Gualtieri said that the government would grant support to medium and large companies in need in the form of “equity or hybrid capital instruments”, with 50 million euros ($54 million)allocated and to be managed by state lender Cassa Depositi e Prestiti (CDP).
Read more via Tgcom (additional reporting through Reuters)