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World

Italy's Draghi says will hike deficit further to support economy

  • "I will propose to parliament ... a new increase in the deficit," said Draghi, who took office a month ago at the head of a government of national unity. Rome's most recent estimate was for a deficit-to-GDP ratio of 8.8% this year.
12 Mar 2021

ROME: Italian Prime Minister Mario Draghi said on Friday he would hike this year's budget deficit further in order to support the economy hit by a worsening coronavirus crisis.

Speaking at a vaccination centre at Rome's Fiumicino airport, Draghi also promised to intensify Italy's inoculation drive and played down health concerns about the AstraZeneca vaccine, which some countries have suspended.

"I will propose to parliament ... a new increase in the deficit," said Draghi, who took office a month ago at the head of a government of national unity. Rome's most recent estimate was for a deficit-to-GDP ratio of 8.8% this year.