Italy’s public debt continues to rise, getting closer and closer to the €3 trillion mark.
According to Bank of Italy, in June, the country’s debt increased by another €30.3 billion compared to May, reaching a total of €2,948.5 billion.
The report also highlighted another record: the value of State bonds held by retail investors has reached its highest level since the introduction of the euro.
The Fabbisogno e Debito Bulletin released by Via Nazionale reiterated how heavy a burden public debt is for Italy’s finances.
In May, the debt level rose compared to April, reaching €2,948.5 billion.
Compared to the same month last year, Italy has accumulated approximately €100 billion more in debt.
Bank of Italy specified that the increase reflects the needs of public administrations (€15.3 billion), the growth in Treasury’s liquid assets (€13.5 billion, reaching €45.4 billion), as well as the effects of premiums on issuances and redemptions, the revaluation of inflation-indexed securities, and changes in exchange rates (€1.4 billion).
As of May, the data indicated that 23.1% of the debt is held by Bank of Italy (down from 23.3% the previous month), 28.9% is in the hands of non-residents (compared to 28.8% in the previous month), and other residents (mainly households and non-financial corporations) hold 14.3% (up from 14.1% before).
Regarding the value of State bonds, retail investors own a record €363.176 billion in debt, the highest value since the euro came into circulation.
Reuters calculated that the percentage held by households and non-financial corporations compared to the total in circulation in May reached 14.9%, up from 14.6% the previous month and 10.8% in May 2023.
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