ROME, Jan 16 (Bernama-Xinhua) -- Italy's public debt exceeded 3,000 billion euros (US$3,087 billion) for the first time in November 2024, reported Xinhua quoting the Bank of Italy 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 per cent 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 per cent of its gross domestic product.
--BERNAMA-XINHUA
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
