Covid-19 pandemic hitting Italy hard as country faces deepest recession since World War II amid collapse in business confidence
Bank of Italy Governor Ignazio Visco presents Bank of Italy's annual report in Rome, Italy, May 29, 2020.
Its members are particularly concerned "by the lack of liquidity necessary to pay costs and salaries ... we are close to a point of no return and that's why the measures decided by the government must be operational immediately," said federation head Patrizia De Luise. As a result, the country is set for a drop in GDP of between nine and 13 percent, the Bank of Italy said on Friday.
"We're waiting for figures at the end of May but indications are that between 700,000 and a million jobs are in danger," he said. Consumer confidence went from 100.1 points in May to 94.3 in March, its lowest level since December 2013. "I didn't qualify for the 600-euro monthly government handout because I earned more than 10,000 euros last year," she told AFP.
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