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Bank of Italy reports record national debt for November

Public debt reached 2.104 trillion euros, says central bank

14 January, 13:35
Bank of Italy reports record national debt for November

(ANSA) - Rome, January 14 - Italian public debt rose by 18.7 billion euros in November to a record high of 2.104 trillion euros, Italy's central bank said Tuesday.

However, the public debt would "very likely" fall in December due to a large budget surplus and a sharp drop in Treasury liquid assets, the Bank of Italy added. The rise in public debt in the first 11 months of 2013 was due to demand from the public administration and the increase in Treasury liquid assets, according to the central bank.

Support to struggling eurozone countries through the European Financial Stability Facility and its replacement European Stability Mechanism alone came in at 12.8 billion euros. Meanwhile, tax revenue in the first 11 months of 2013 stood at 339.1 billion euros, a "slight drop" over the same period the previous year, the Bank of Italy said.

Tax revenue in the period January-November 2012 was 340.7 billion euros, according to the bank.

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