Signorini (Bank of Italy): high debt is a mortgage on the economy

The high public debt it represents another mortgage on our economy, both for the resources that must be allocated to its service, affecting the tax burden or reducing the space for productive uses, and for the risk, never extinguished, of financial turbulence’.

So the CEO of the Bank of Italy, Luigi Federico Signorini, speaking at the presentation of the report on the economy of Lombardy.

‘The increase in pension expenditure and the other costs associated with the aging of the population will weigh on it in the future. There is no other way to reduce it than to achieve and maintain moderate but persistent positive primary balances’. ‘