Italy's public debt over 3,000 bln for first time


  • World
  • Thursday, 16 Jan 2025

ROME, Jan. 15 (Xinhua) -- Italy's public debt exceeded 3,000 billion euros (3,087 billion U.S. dollars) for the first time in November 2024, the Bank of Italy reported Wednesday.

According to the bank, the country's public debt rose by 24 billion euros in November, reaching a record high of 3,005.2 billion euros. The increase was attributed to higher expenditures, coupled with a modest 0.1 percent decline in tax revenues compared to November 2023.

The country's public debt stood at 2,860 billion euros at the start of the year.

Italy remains one of the most indebted countries globally in relation to its economy, with debt equivalent to approximately 136.6 percent of its gross domestic product. (1 euro = 1.03 U.S. dollar)

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In World

Ethiopia to leverage AfCFTA to utilize broader market opportunities: official
More than three dozen killed in bus accident in southern Mexico, local media says
Sweden plans stricter gun laws, school security after shooting
Emboldened by Trump, Iranian dissidents demand overthrow of rulers
Orban, Le Pen hail Trump at far-right 'Patriots' summit in Madrid
Trump’s aid freeze keeps life-saving programs shut, sparks mayhem
Over 50 people killed in convoy ambush in northeast Mali, sources say
Indian PM Modi's party wins election in capital after 27 years out of power
Taiwan sends officials to US to discuss possible Trump tariffs
Baltic nations cut ties to Russian power grid, prepare to link with EU

Others Also Read