Italy’s Virus Deaths, New Cases Fall Amid Record Recoveries

(Bloomberg) --

Italy saw the number of recoveries from the coronavirus hit a record high as Prime Minister Giuseppe Conte prepares to start easing the country’s lockdown from the beginning of May.

Figures from civil protection authorities showed there were 1,872 new cases for the 24-hour period, compared with 2,086 a day earlier. There were 285 deaths from the virus, compared with 323 on Wednesday, bringing the total number of fatalities to 27,967. Confirmed cases now total 205,463.

Italy will start to gradually ease its two-month lockdown on May 4. The new rules call for construction and manufacturing to resume next week, while retailers and museums will reopen on May 18 and bars and restaurants in June. Schools will remain closed until September.

The government is trying to limit the economic impact of the pandemic by restarting some activities. The country’s economy shrank 4.7% in the first quarter, the biggest drop since the series started in 1995, national statistics institute Istat said Thursday. Officials expect the budget deficit to spiral to 10.4% of gross domestic product this year and output to shrink by 8%.

To mitigate the impact on the economy, Conte approved an initial 25-billion euro package of measures last month and plans to fund another stimulus package for the economy worth 55-billion euros.

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