Italian public debt reached a new record in May, increasing by 13.3 billion euros compared to the previous month, reaching 2,918.9 billion euros, according to the latest report by the Bank of Italy.
Increase in central government debt
The debt of central administrations recorded a significant increase of 13.6 billion euros. This rise was the main factor behind the new record reached by the overall public debt.
Reduction in local government debt
Contrary to the general trend, local government debt decreased by 0.3 billion euros. This decline, though modest, indicates an effort towards more stringent financial management at the local level.
Stability of social security entities’ debt
The debt of social security entities remained substantially unchanged, indicating some stability in the management of this sector despite the general economic difficulties.
What do you think about this new record in public debt? Share your opinion by commenting in the form below.
