Italy’s national debt exceeded 2.33 trillion euros and continues to increase

According to the Central Bank of Italy, the national debt of the country reached a record value of 2.331 trillion euros in September, an increase of 4.7 billion euros compared with August.The growth of government debt was a result of an increase in expenses of the central state administration and a decrease in the mass of cash in circulation. In addition, the Bank of Italy announced that foreign investors had begun withdrawing their money from the stock market and Italian government securities.The Italian government intends to reduce government debt through accelerated privatization. At the expense of it, it is supposed to increase Italy’s GDP by 1%, and not by 0.3%, as it was planned earlier. By 2021, the Italian authorities intend to reduce the national debt of Italy to 126% of GDP.

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Source:: Italy’s national debt exceeded 2.33 trillion euros and continues to increase