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 ...

China and India continue to remain the most promising investment destinations in 2017.
Developing Asia is expected to witness a 15% increase in...
Thai CB Retains Key Rate
Thailand’s central bank on Wednesday left its key interest...
Brazil Raises Deficit Ceiling
Brazil is raising its deficit ceiling for this year and 2018...
Elon Musk, Kevin Plank, Bob Iger, Richard Trumka, Kenneth Carleton Frazier
The honeymoon is definitely over. When US President Donald...
Riksbank is under pressure to tighten its ultra-loose monetary policy.
Underlying inflation topped the Swedish central bank’s target...
Crude oil accounts for 96% of exports and around half of state revenue.
Venezuela might look bad right now amid protests, scarce food...
At 310% GDP, China’s banking sector is above the advanced economy average and nearly three times  the emerging market average.
China's economy is looking good enough that the International...
US Household Debt at $12.8 Trillion
US household debt reached a new record in the second quarter,...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus