Economy

Public debt equals 43,000 euros to every Italian

Italy: The Public debt 2020 marks a bitter balance.

The increase in government debt compared to 2019 is clear and its value is jumping to alarming levels.

In a year devastated by the epidemic, public finances are especially suffering, highlighting record numbers. All updated data from the Bank of Italy report on public debt.

Public debt: 160 billion increase in 2020

Bankitalia offers a numerical analysis of Italian public debt for the year just presented:

In 2020 the debt was equal 2569.3 billion euros Compared to 2409.9 billion (134.7% of GDP) for 2019.

Specifically, within 12 months, the government debt will rise by 159.4 billion euros, divided as follows according to the calculations published by the company Nazionale:

  • Central government consolidated debt: +160.1 billion to 2,484.9 billion euros;
  • Consolidated debt of local administrations: -0.8 billion to 84.2 billion euros;
  • Retirement Fund Debt: Stable

The Bank of Italy memo states that:

Debt increase in 2020 (159.4 billion) Reflecting both general government borrowing requirements (152.4 billion) and the increase in treasury liquidity (9.6 billion to 42.5 billion); On the other hand, margins and premiums on issuance and redemption, and revaluation of securities linked to inflation and change in the exchange rate, reduced the debt by 2.6 billion.

How much debt does italian have?

L ‘Warning On the Debt level Legacy from 2020 primarily linked to calculating the weight of every citizen.

As emphasized by the National Consumers Union, In 2020 it looks like Each Italian had a debt of 43,78 euros. A value higher than the previous record for the year 2019, when it was equal to 40,288 euros

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For a family, the public debt in Italy is equal to more 98,000 euros.

Thelma Binder

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