Italy’s National Debt Hits New Record of $3.04Trln in March

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italy’s national debt increase, economic issues in italy, italian economy struggles, how big is italian debt, how much italy owes, italian debts

italy’s national debt increase, economic issues in italy, italian economy struggles, how big is italian debt, how much italy owes, italian debts

ROME (Sputnik) – Italy’s sovereign debt increased by 17.8 billion euros ($19.4 billion) in March and reached a historical maximum of 2.79 trillion euros ($3.035 trillion), the Bank of Italy said on Monday.

The previous record was set in February 2023, when Italy’s sovereign debt first surpassed 2.78 trillion euros.

“It is a new historic record! This exponential growth raises concern and anxiety, given the increase of the interest rate due to a new restrictive monetary policy by the European Central Bank,” Massimiliano Dona, the president of the Italian National Consumer Union, said, commenting on a new report by the Italian central bank.

COVID-19 restrictions led to an increase in Italy’s state debt to over 155% of the country’s gross domestic product (GDP) in 2020. After the limitations were lifted, the national economy started growing again, and the government reduced its support for businesses and citizens. However, the Ukraine conflict, as well as a rapid surge in energy prices caused a significant decline in Italy’s GDP and the government debt started to rise once more.
Italian crisis - Sputnik International, 1920, 15.04.2023

Italy’s State Debt Hits All-Time High of $3Trl in February

Last month, the EU’s statistical office, Eurostat, said that Italy’s national debt had reached 144% of GDP in the fourth quarter of 2022.





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