The Italian government has approved 25 billion euros ($28.93 billion) of extra spending — the third major cash injection to try to support its battered economy since the start of the country’s coronavirus outbreak.

The new stimulus will involve additional borrowing and drive the 2020 budget deficit to 11.9 per cent of national output, versus a goal of 10.4pc set in April and a figure of 1.6pc reported in 2019, the lowest in 12 years.