One in four at risk of poverty says Bank of Italy

Richest 5% have 30% of Italy wealth says report

(ANSA) - Rome, March 12 - The percentage of Italians at risk of poverty rose to a record high of 23% in 2016 from 19.6% in 2006, the Bank of Italy said Monday, highlighting that nearly one in four Italians were at risk of poverty. In the case of immigrants the rate rose from 34% to 55%.
    Poverty was widespread in the poorer south of Italy but there also a sharp rise of poverty risk in the richer north over the 10 years, almost doubling from 8.3% to 15%.
    Italy's richest 5% have 30% of the country's wealth, the Bank of Italy said Monday, reporting 2016 figures. The richest 30% of households had 75% of overall wealth, with a net average wealth of 510,000 euros.
    More than 40% of this quota is held by the richest 5%, which has an average net wealth of 1.3 million euros.
    The poorest 30% of households has 1% of the country's wealth.
    photo: BoI Governor Ignazio Visco