Home » Bank of Italy, a new record for public debt, rose to 2,725.9 billion in July

Bank of Italy, a new record for public debt, rose to 2,725.9 billion in July

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New record of public debt. In July, according to the revelations of the Bank of Italy in the publication on public finance, the debt of the public administrations increased by 29.7 billion compared to June, amounting to 2,725.9 billion. The increase is due to the increase in the Treasury’s cash and cash equivalents (36.3 billion to 120.8), which more than offset the general government cash surplus (7.1 billion). The effect of spreads and premiums on issue and redemption, the revaluation of inflation-linked securities and the change in exchange rates increased debt by € 0.4 billion.

Bankitalia also notes that in July the tax revenues accounted for in the state budget amounted to 48.4 billion, an increase of 10.5 per cent (4.6 billion) compared to the corresponding month of 2020. In the first seven months of 2021 tax revenues amounted to 243.2 billion, an increase of 13.8 per cent (29.5 billion) compared to the same period last year. In addition to the more favorable macroeconomic scenario, this increase reflects the effect of some extraordinary factors including the revision of the deadlines for the payment of some taxes ordered in 2020.

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