Italy to push further measures to help economy amid outbreak: PM

Source: Xinhua| 2020-03-16 18:55:34|Editor: zyl
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ROME, March 16 (Xinhua) -- Italy is ready to roll out a stimulus plan, since current measures have so far not been sufficient enough to support the country's economy, Italian Prime Minister Giuseppe Conte said on Monday.

"Damage (from the outbreak) will be serious and widespread. A true 'reconstruction plan' will be needed," Conte told the newspaper Corriere della Sera in an interview.

Out of worries over the country's overwhelmed public health system, panicked investors have been selling Italy's 10-year government bond, pushing up the yields by more than 22 bps.

Italy was the first EU member state to shutter schools and almost all businesses to try to slow the global pandemic that has killed 1,809 people in the Mediterranean country since last month.

It has recorded more than half the deaths officially reported outside China.