Millions of people are under lockdown in northern Italy — but core sectors of the economy and the public administration will remain open for business, according to a statement from the Finance and Economy ministry Monday.
The sweeping lockdown went into effect yesterday, placing the entire Lombardy region and 14 other provinces under strict measures, including cancelations of events and school closures.
These measures would impact sectors tied to transportation, lodging, food, drink and entertainment, said the ministry’s statement.
“This is of the utmost importance not only from a healthcare point of view but also economically. A temporary downturn in some sectors or areas of the country is preferable to a longer crisis that could spread to the whole economy via demand and supply effects,” the statement said.
The Italian government is preparing measures to support workers and firms across the country, particularly in sectors and areas most affected by the outbreak, the ministry statement added. These measures will aim to prevent “lasting damage to the supply side of the Italian economy and permanent employment losses.”