Public sector debt down, but 50 bn more must be cut - BoI

(ANSA) - Rome, October 27 - The Bank of Italy said Tuesday that the State has managed to reduce the public sector's debt related to late payments to private sector suppliers by 20 billion euros in the last two years. It added, however, that the State still needed to bring the debt down by 50 billion euros from the 70 billion registered at the end of 2014 to respect EU regulations. The central bank added that some public bodies "may have devoted part of the funds received from the economy ministry to finance new spending rather than reducing trade debts".