Italian Economy Minister Roberto Gualtieri attends a meeting in Naples, Italy, February 27, 2020. — Reuters pic
The new stimulus will involve additional borrowing and drive the 2020 budget deficit to 11.9 per cent of national output, versus a goal of 10.4 per cent set in April and a figure of 1.6 per cent reported in 2019, the lowest in 12 years.“It is essential to continue to support the productive system and the income of citizens,” the prime minister's office said in a statement after the cabinet approved the move at a meeting that ended around midnight .
The government has said it will present the measures in an emergency decree early in August, following a parliamentary vote on July 29 to authorise the deficit hike. The extra funds will conditionally extend financing for temporary layoff schemes for a further 18 weeks, a government source said. Companies hit hardest in the first half of 2020 will be entitled to extend the scheme so as long as they do not cut back their workforce.
Source: Financial Digest (financialdigest.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Italy detains migrant rescue ship over safety concernsThe refugees were picked up in separate rescues in the Mediterranean on June 25 and 30. FMTNews
Source: fmtoday - 🏆 5. / 72 Read more »
Philippines reports two new coronavirus deaths, 1,951 infections | Malay MailMANILA, July 21 — The Philippines’ health ministry today reported two more novel coronavirus deaths and 1,951 additional infections. In a bulletin, the ministry said total deaths had increased to 1,837, while confirmed cases had reached 70,764. President Rodrigo Duterte has threatened to arrest...
Source: malaymail - 🏆 1. / 86 Read more »
Australia's Victoria state reports 374 new cases of coronavirus | Malay MailSYDNEY, July 21 — Australia's second most populous state of Victoria reported today three deaths from the new coronavirus and logged 374 daily cases of infections compared with 275 cases a day earlier. A woman in her 100s, a woman in her 90s and a woman in her 80s have all died from the virus,...
Source: malaymail - 🏆 1. / 86 Read more »
Indonesia reports 139 new coronavirus deaths, highest daily rise | Malay MailJAKARTA, July 22 — Indonesia reported today 139 new deaths from the coronavirus, the country’s highest daily increase and bringing the total number of fatalities to 4,459, data from the country’s Health Ministry website showed. The number of infections rose by 1,882 to bring the total number...
Source: malaymail - 🏆 1. / 86 Read more »
Mainland China reports 22 new coronavirus cases, including 18 in Xinjiang | Malay MailBEIJING, July 23 — China reported 22 new coronavirus cases in the mainland for July 22, up from 14 cases a day earlier, the health commission said today. Of the new infections, 18 were in the far western region of Xinjiang and one was in Dalian city in the northeastern Liaoning province,...
Source: malaymail - 🏆 1. / 86 Read more »
Hong Kong reports record daily rise in coronavirus cases | Malay MailHONG KONG, July 22 — Hong Kong reported 113 new coronavirus cases today, a daily record, including 105 that were transmitted locally, adding to a slew of new cases which have hit the global financial hub over the past two weeks. The city is expanding strict new social distancing measures from...
Source: malaymail - 🏆 1. / 86 Read more »