The Covid-19 death toll in Italy has shot up to 10,023 on Saturday, March 28 despite a 16-day lockdown.

There were 889 new fatalities reported.

The world's worst-hit nation registered 969 deaths on Friday, March 27, the highest single toll.

An additional 5,974 infections saw the total number of people who have officially tested positive for Covid-19 in Italy surge to 92,472.

Italy now looks certain to extend its business closures and the ban on public gatherings past their April 3 deadline.

Italian Prime Minister Giuseppe Conte told Italians late on Saturday to be ready to spend more time cooped up at home.

Italy facing near economic collapse

The southern European nations worst-hit by the virus are urging the European Union to abandon its budget rules.

The bloc has already loosened its purse strings in ways not seen since the 2008-2009 global financial crisis.

The entire eurozone is expected to slip into a recession over the coming months.

But Italy is facing the threat of a near economic collapse after being the first European country to shutter almost all its businesses on March 12.

Italy's economy, the third-largest among nations that use the euro common currency, could contract by as much as 7 percent this year.

Italy's fatalities could be much higher because retirement homes often do not report all their Covid-19 deaths.

The number of people who have died from the new disease at home is also unknown.

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