Italy’s public debt at record high

Italian public debt has reached a new record high, according to data released today by the Bank of Italy.

At the end of April, the debt stood at €1.9485trn, an increase from the previous figure of €1.946trn in March.

The debt has increased by €50.7bn since the end of 2011.

Government revenues for the first quarter of the year were about €111bn, a 0.2% increase from the same quarter the previous year.

In April 2012, revenues increased by 2.4% compared to April 2011.

Fabrizio Saccomanni, director general at the Bank of Italy, warned of structural problems of growth for the Italian economy.

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