Italy's public debt has reached an all-time high in June, reaching 2.5306 trillion euros ($2.98 trillion), the national central bank said on Friday
ROME (Pakistan Point News / Sputnik - 14th August, 2020) Italy's public debt has reached an all-time high in June, reaching 2.5306 trillion euros ($2.98 trillion), the national central bank said on Friday.
In July, the same figure amounted to record 2.5076 trillion euros amid the coronavirus crisis.
According to the Bank of Italy, the country's sovereign debt has risen by over 20 billion euros since May. The debt of the central state administration increased by 21.7 billion euros, while the debt of local administrative bodies decreased by 0.1 billion euros.
The devastating economic consequences of the COVID-19 pandemic resulted in the national debt rising by almost 86.5 billion euros in the first half of 2020, which is more than three times compared to the same period of 2019, the central bank noted.
