Reuters exclusively reports Italy sees 2020 budget deficit near 10% of GDP

Reuters exclusively reported that Italy’s budget deficit will be near 10% of gross domestic product this year as Rome increases borrowing to try to soften the impact of the new coronavirus and the economy plunges into a deep recession. The government began the year with a target of a 2.2% deficit after the 1.6% reported in 2019, which was the lowest in 12 years. But those plans have been upended by the virus outbreak.