Italy’s government debt hits record levels in 2013 – Istat

Italy’s public debt peaked at 132.6% in 2013, its highest level since 1990, according to the Italian National Institute of Statistics (Istat).

The Italian GDP went fell to €1,560,024m in 2013, down by 0.4% compared with the previous year, Istat’s data also revealed.

General Government net borrowing was of €-47,321m (-3.0% of GDP) in 2013, unchanged if compared with the previous year (-3.0% of GDP).

However, general Government debt reached €2,068,948m (132.6% of GDP), its highest levels since 1990.

The fall in GDP was due to a sharp contraction in Gross fixed capital formation (-4.7%) and in Final consumption expenditure (-2.2%). Imports decreased by 2.8%, Istat also highlighted.

 

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