Italian government debt exceeds 135 percent of GDP – Eurostat

Jul 22, 2015 12:00 AM

The ratio of Italian government debt to the country’s gross domestic product (GDP) reached 135.1 percent at the end of the first quarter of 2015, Eurostat said in a press release Wednesday.

This is the second-worst debt-to-GDP ratio in the Eurozone after Greece, with 168.8 percent, but the Greek ratio has shown a positive dynamic, decreasing by 8.3 percent compared to the last quarter of 2014.

According to the Eurostat data, Italy's 3-percent increase in this crucial indicator was only outpaced by Belgium, where state indebtedness to GDP rose by 4.5-percent.

On July 14, the Italian Central Bank (ICB) declared that its government debt had increased by 83.3 billion euro ($90.3 billion) in the first five months of 2015, climbing to a record high of 2.21 trillion euro in May. The ICB linked the rising debt to a fall in the euro exchange rate, changes on the sovereign bond market and an increase in money supply.

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