icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm
16 May, 2021 10:22

Italy’s enormous debt pile continues to grow

Italy’s enormous debt pile continues to grow

Italy’s sovereign debt has reached a new all-time high of more than €2.65 trillion, according to the Bank of Italy, which reported a massive month-over-month increase of €6.9 billion in March alone.

The upsurge reportedly came as the debt of the central government increased by €7.7 billion. At the same time, the debt of the local government decreased by €0.8 billion, while that of the social security institution reportedly remained almost unchanged.

The regulator also said that the borrowing requirement amounted to €25.3 billion, more than offsetting the reduction in the Treasury’s liquidity.

Also on rt.com No mercy to pandemic-hit states as ECB chief says canceling Covid debts ‘unthinkable’

As of the end of March, the share of debt held by the Bank of Italy stood at 22.2%, up 0.4% from the previous month, with the average residual life of the debt increasing slightly to 7.4 years.

Italy’s debt is currently around 160% of economic output.

For more stories on economy & finance visit RT's business section

Podcasts
0:00
23:13
0:00
25:0