Italy's public debt is approaching the monstrous figure of 3 trillion euros. In May, according to data released by the Bank of Italy, it increased by another 13.3 billion euros to 2,918.9 billion euros (about 49,500 euros for each Italian). In the first five months of 2024, debt rose by more than 70 billion euros. Continuing at this pace, the 3 trillion euro wall could be broken through within the year. This is a sensitive figure, affecting markets and the spread, which has nevertheless remained at low levels, at 128 points with German Bunds. The government forecasts a moderate trend increase in debt, from 137.8% of GDP in 2024 to 139.6% in 2027 while the Parliamentary Budget Office is more pessimistic and estimates 138.2% this year, 140.3% in 2026 and 140.5% in 2027. The average remaining life of debt, Bankitalia says, is stable at 7.8 years. Finally, the revenue figure is positive: in May it was 43.3 billion euros, up 7.1% from the same month in 2023. And by 7.1%, tax revenues also increased in the first five months of 2024 compared to the same period in 2023.
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