#Italy #Rome #DEBTS (#Coronavirus)
At the end of last year, Italy's total public debt soared to almost 2.57 trillion € (US$ 3.12 trillion), the Bank of Italy reported on Monday.
At the end of last year, Italy's total public debt soared to almost 2.57 trillion € (US$ 3.12 trillion), the Bank of Italy reported on Monday.
Compared to the amount of public debt at the end of 2019, the number represents a rise of 6.6 percent, or 159.4 billion €. But since, according to preliminary estimates from the country's National Statistics Institute, or ISTAT,
Italy's gross domestic product (GDP) contracted by an estimated 8.8 percent last year, that means public debt as a percentage of the economy increased from 134.7 percent at the end of 2019 to 157.6 percent of GDP at the end of 2020.
The debt-as-a-percentage-of-GDP figure for 2020 could change slightly after ISTAT releases its final report on the country's economic growth for 2020 later this month.
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