Apr 29, 2020 - World

Over 4 million Italian workers apply for coronavirus relief funds

In this image, a person walks down a stone hallway

A woman at the Piazza Navona in Rome on April 29. Photo: Andreas Solaro/AFP via Getty Images

Over 4 million workers have applied to Italy's national welfare agency to get €600 payments (roughly $650) for wages lost due to the country's stay-at-home order, the agency tweeted on Wednesday.

The big picture: Italy plans to phase out of the world's longest-running coronavirus lockdown next week. As factories and construction sites reopen, the country will have to keep infections down to prevent another novel coronavirus spike.

Where it stands: The agency initially predicted that 2.3 million people would apply to the fund, Reuters reports. 630,000 applications for financial help are currently being verified, tweeted the agency, INPS.

  • Italy's unemployment rate is expected to hit 11% this year, per Statista.
  • Bloomberg Economics forecasts a 13% shrinkage in the country's GDP this year, while the government predicts the GDP will contract by 8%.

Go deeper: Italy reports lowest single-day coronavirus death toll since March 12

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