This paper deals with the effects of the coronavirus pandemic on the Italian economy. It documents how its economic impact will be severe and highly differentiated. It will be differentiated among industries and firms, hitting more services than manufacturing, and some services at most. Among people, hitting more less qualified workers than highly skilled; younger workers more than older ones; women more than men. Among territories: hitting more touristic areas; its long term effects on cities are still difficult to be quantified. The recovery plan under definition by the Italian government will play a crucial role in reducing those effects and relaunching the economy: however, planning and implementing public investments requires a careful design.