Italy to hike 2020 budget deficit to around 11.6% of GDP - source

ROME (Reuters) - Italy will raise its 2020 budget deficit to around 11.6% of gross domestic product from the current 10.4% goal, a senior government official told Reuters, as Rome readies new measures to soften the impact of the coronavirus crisis.A new spending package of 20 billion euros (18 billion pounds) will be approved in July, the source said, asking not to be named because of the sensitivity of the matter.The Treasury declined to comment.The government began the year with a deficit..