Italy's GDP to fall 10% first half of 2020 - Confindustria

Risk of depression says business group

(ANSA) - Rome, March 31 - The coronavirus will cause a "huge loss" in GDP in Italy in the first half of the year and growth will fall to -10% over the first two quarters of 2019, Confindustria's study centre said Tuesday.
    The business group said the Italian economy had been "hit in the heart" by the virus and there was the risk of a depression.
    The industrial employers federation added that the EU must show it is up to the challenge posed by the emergency.
Goldman Sachs also said Tuesday the Italy's deficit-to-GDP ratio could be as high as 10% this year.


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