64524
Italy’s public debt hit a new high of $2.48 trillion in March.
Italy’s public debt hit a new high of $2.48 trillion in March.

Italy Inflation, Debt Rise

Italy Inflation, Debt Rise

Italy’s annual inflation rate rose to 1.9% in April, up from 1.4% in March, according to ISTAT’s flash estimate released on Monday. It is necessary to go back to January 2013, when the inflation rate was 2.2%, to find a higher figure. The national statistic agency added that its consumer price index was up 0.4% in month-on-month terms.
Meanwhile, Italy’s public debt hit a new high of €2.2603 trillion ($2.48 trillion) in March, an increase of €20.1 billion with respect to February, the Bank of Italy said on Monday. The previous high was the 2.2522 trillion registered in June 2016, ANSA reported.
Late April, Italy’s credit rating was cut closer to junk territory by analysts at Fitch, who cited “weak economic growth” and the country’s “persistent track record of fiscal slippage”.
Fitch reduced the rating to “BBB” from “BBB+”, leaving it just two notches above speculative-grade.
“Italy’s persistent track record of fiscal slippage, back-loading of consolidation, weak economic growth, and resulting failure to bring down the very high level of general government debt has left it more exposed to potential adverse shocks,” the ratings group said.
Fitch added that Italy has “missed successive targets” for its debt-to-gross domestic product ratio, which rose by 0.5 percentage points to 132.6% last year.
At the same time, “banking sector weakness adds to downside risks to the economy and public finances,” Fitch noted.

Short URL : https://goo.gl/lHxjSP
  1. https://goo.gl/p1tr5p
  • https://goo.gl/6SU5H4
  • https://goo.gl/XXwHjD
  • https://goo.gl/OODRUD
  • https://goo.gl/MP2iW5

You can also read ...

MAS says growth will be uneven across industries.
The economy is tipped to grow by 2.7% this year despite uneven...
China Overproduction Threatening US Aluminum Firms
Chinese overproduction is sending the US aluminum industry into...
Thailand expects 2017 export growth target of 5%.
Thailand’s customs-cleared exports rose for a third straight...
Factory activity rose to hit 57.3 this month from 56.8 in May. Robust manufacturing activity matches the performance in France and German this month, where growth also accelerated.
A closely watched survey shows that economic growth across the...
French Growth Revised
The French economy grew 0.5% in the first quarter from the...
EU Extends Russia Sanctions
EU leaders on Thursday extended sanctions against Russia for...
India Forex Reserves Reach $382b
India’s forex reserves increased by $799 million, mainly on...
Cambodia Growth Expected  at 7%
Cambodia’s economic growth is expected at 7% in 2017, driven by...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus