Italy’s public debt hits new record high

KATHMANDU: The Bank of Italy has said that Italy’s public debt has increased and set a new record.

The Bank of Italy announced on Wednesday that the country’s public debt has climbed by 2.843 trillion euros (3.09 trillion US dollars), setting a new high.

This sum has climbed by 27.8 billion euros since last month.

There was a decline in the last three months of 2022. But this year, the size of Italy’s public debt is increasing every month. The level of debt has increased due to government borrowing.

According to the bank, government debt increased by 12.3 billion euros this month compared to last month.

Italy’s public debt was 144.7 percent of the country’s GDP in 2022.