Italy will hike deficit forecast to 2.4% from 2.2% on virus - report

Reuters citing sources

• Italy will hike its deficit forecast to 2.4% of GDP, according to sources cited by Reuters
• Deficit will be reviewed again in April

The virus is going to be very costly and eurozone deficit rules are going to be a problem. Italy has barely grown for years and the reports of closures in Northern Italy and the potential for spread means it could soon be in recession, with a much larger deficit than 2.4%.