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Italy's National Debt Hits Record High, Reaches Some $2.5 Trillion

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Italian government debt has increased by more than 77 billion euros in the first six months of 2016, according to the country's central bank.

ROME (Sputnik) — Italy's public debt reached a historic high in June, exceeding 2.249 trillion euros ($2.518 trillion), the country's central bank said Friday.

According to the Banca d'Italia bulletin, the country's government debt has increased by more than 77 billion euros in the first six months of 2016.

A man takes out Euro banknotes from an automated teller machine (ATM) - Sputnik International
Italy's Public Debt Hits New Record in March
In April, the European Union's statistical agency Eurostat reported that the national debt of Italy in the end of 2015 stood at 132.7 percent of the country's GDP.

According to the Italian government data, Italian debt now stands at some 141 percent of GDP, meaning that each of the country's 60.7 million citizens is over $40,000 in debt.

In July, the International Monetary Fund (IMF) lowered the 2016-2017 growth forecast for Italy.

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