The Strategist

Italian Prime Minister allows fragmentary stop of the economy

10/13/2020 - 04:22

The option of introducing a new national quarantine and stopping the Italian economy is completely ruled out, Prime Minister Giuseppe Conte said on Monday, October 12.

The country has prepared to prevent such a scenario, while the option of "limited" quarantines affecting certain areas is possible, Conte said.

As of October 12, 36,205 people died in Italy with a confirmed diagnosis of coronavirus pneumonia, over the past day this figure has increased by 39 (the day before - by 26). 240 600 people recovered, this figure increased by 891 per day (the day before - by 1184). The number of confirmed carriers increased by 4619 (a day earlier - by 5456). Such high rates have been recorded since October 8 - for the first time since April 2020.

Taking into account those who recovered and died, the total number of carriers of the coronavirus for the entire period of the epidemic is 359,569. Currently, 82,764 people are infected, which is 3,689 more than the day before. The number of actually infected (continuously decreasing from late April to early July) has been growing for more than two months, during which time it has increased almost sevenfold. At the same time, the number of deaths increases much more slowly: doctors associate this with a change in the average age of the infected - now they are almost always young and middle-aged people.

Schools, transport and businesses in the country operate as usual. At the same time, citizens are required to wear a mask in all public places without exception and observe the rule of sanitary distance.

The COVID-19 restrictions in Italy had been in force for about 2 months in the spring 2020. Large losses are expected for the country's economy as touis nearly stopped and production and exports keep falling. It is expected that the GDP volume will fall by 10-15%.

At the end of the Q2, the country's GDP lost 17.3%. State projects to support the economy imply the allocation of almost 100 billion euros (including loans). From EU funds, the budget of Italy and Italian companies can receive about 200 billion euros, most of these funds are credit.