Italy PM announces 25 billion euros to fight deadly coronavirus outbreak

Italy's Prime Minister Giuseppe Conte anunced on March 11 that y will be allocating 25 billion euros ($ 28.3 billion) to fight dely coronavirus outbreak that has alrey killed 631 people in Italy. According to reports, Italy has become epicentre of viral outbreak in Europe and recently anunced nationwide lockdown to help control spre to virus.

According to reports, Conte has told reporters that his government was allocating 25 billion euros in an effort to tackle rapidly escalating health crisis. Italian Prime Minister also ded that entire allocated sum would t be used immediately. As per reports, ecomy Minister Roberto Gualtieri has claimed that half of allocated fund will be used immediately while or half is held back in reserve.

Back on March 5, Italian officials h anunced that y would be allocating a 7.5-billion-euro emergency response pack but h also claimed that amount would most likely have to increase in an effort to match rapid spre of coronavirus.

Italy has emerged as focal point for coronavirus outbreak in Europe. As per reports, Italy is region's weakest ecomy, and things have t been me better with recent viral outbreak. Due to fears of rapidly spreing coronavirus, tourists have stopped visiting its cultural treasures or buying its prized artisanal products, from fashion to food to design. 

According to reports, Italy might be Europe's third-largest ecomy but it has long been amongst slowest growing in region. Italy has amassed largest number of virus infection outside Asia. All towns in country's rth have been quarantined, rth of country is heart of Italy's manufacturing and financial industries. 

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Airlines have also cut back on flights going to Italy, meaning millions of fewer tourists and traveller that can result in a loss for hotels, restaurants, tourist sites and many ors amounting in billions, as per reports. turmoil threatens to send Italy back into a recession and weigh heavily on entirety of Europe as even tre-focused countries like Germany, France and Britain battling a global disruption in supply chain.

Tourism severely hit

Reports indicate that tourism officials expect 32 million fewer foreign visitors and a loss of 7.4 billion euros ($8.1 billion). Many in tourism industry are blaming virus cover by media. People like Luca Patane, president of tourism association Confturismo-Confcommercio believe that media cover of virus has been much more lethal than virus itself.

dely coronavirus that began in China's Wuhan province has been officially named COVID-19 by World Health Organisation. While majority of reported cases are still present in mainland China, virus has spre to multiple countries around world and infected 1,21,000 people worldwide. death toll from virus stands at 4,300 worldwide.

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