Bloomberg

Italy sees economy shrinking 9% in 2020, outlook draft shows

Foto: Bloomberg/Alessia Pierdomenico

Italy's government forecasts the economy will contract 9% this year and expand 5.1% in 2021, according to a draft budget outlook document seen by Bloomberg News.

The administration of Prime Minister Giuseppe Conte targets cutting the country's debt pile to 151.5% of gross domestic product by 2023, according to the document, which is subject to change and is due to be approved at a cabinet meeting Monday evening. Under the adverse scenario,..

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