Public debt in Italy is falling, but we remain the 2nd most indebted EU country

Public debt in Italy is falling, but we remain the 2nd most indebted EU country
Public debt in Italy is falling, but we remain the 2nd most indebted EU country

Alessandra Benedetti – Corbis via Getty Images

Mario Draghi

Italian public debt falls, but Italy remains the second most indebted country in Europe, after Greece. This is what emerges from Eurostat data.

After hitting the psychological threshold of 100% of GDP in the first quarter of the year, the ratio between public debt and GDP of the Eurozone, in the April-June period, dropped to 98.3%. In the same period in Italy the debt went from 160% to 156.3% while in the EU as a whole it went from 92.4 to 90.9%. For both the Eurozone and the EU, Eurostat points out, the reduction in the debt-to-GDP ratio is attributable to the recovery of growth recorded in the second quarter since the debt, in absolute terms, continued to grow to offset the effects of the crisis of Covid.

The highest ratios between public debt and GDP at the end of the second quarter of 2021 were recorded in Greece (207.2%), Italy (156.3%), Portugal (135.4%), Spain (122.8%) ), France (114.6%), Belgium (113.7%) and Cyprus (112.0%), and the lowest in Estonia (19.6%), Bulgaria (24.7%) and Luxembourg (26 ,2%).

Compared to the first quarter of 2021, two Member States recorded an increase in the debt ratio at the end of the second quarter of 2021, twenty-three a decrease, while the ratio remained stable in Bulgaria and Estonia. Increases in the ratio were observed in Malta (+2.0 percentage points – pp) and Slovakia (+1.3 pp), while the largest decreases were recorded in Cyprus (-9.4 pp), Slovenia (-5, 0 pp), Croatia (-4.0 pp), Portugal (-3.7 pp), Hungary and France (both -3.4 pp), Italy (-3.3 pp) and Belgium (-3.2 pp ).

Source

Public debt Italy falling remain #2nd indebted country

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