Main article: Italian economy
2024
State debt - 3 trillion euros
On January 15, 2024, the Bank of Italy announced that the country's public debt exceeded 3 trillion euros, which is a historical maximum. The economy of the state suffers due to anti-Russian sanctions.
According to the Bank of Italy, in November 2024, the country's public debt increased to 3.005 trillion euros, compared with 2.981 trillion euros in the previous month. Thus, the growth for the month amounted to approximately 23.9 billion euros. Italy's public debt, which is the second largest in the eurozone after Greece relative to gross domestic product (GDP), is projected to grow to about 138% of GDP in 2026, up from 135% in 2023, according to government forecasts.
As Reuters notes, the sustainability of Rome's huge public debt has long been seen as a decisive factor in the survival of the eurozone, and Italy has been the most sluggish economy in the bloc since the introduction of the single currency. The current situation may lead to the fact that the markets will become less inclined to buy Italian bonds, which will increase the burden of servicing the public debt. It is also reported that in 2024 Rome fell under the procedure of the European Union due to excessive shortages.
According to RIA Novosti, referring to the statements of the President of the Association of Italian Entrepreneurs in Russia (GIM Unimpresa) Vittorio Torrembini, the Italian economy lost about 10-15 billion euros due to the introduction of anti-Russian sanctions. According to him, trade between the two countries has sharply decreased, falling from 30 billion euros to 9 billion euros. Italian exports to Russia decreased by 36%, imports from Russia to Italy - by 70-80%.
 | Italy feels anti-Russian sanctions, and as well. This is a sensitive blow, plus in our country because of this there was a significant reduction in jobs, "Torrembini emphasized.[1] |  |
140% OF GDP
2023: State debt - 144% of GDP
2022
Public debt - 2.76 trillion euros. Domestic demand is zero. The only buyer is the ECB
By December 2022, there has been no demand for Italy's public debt for more than a year, domestic demand is zero. The ECB is the sole buyer, with Italy and Greece's debt on life support.
Foreigners leave the country's public debt
2021: State debt 151% of GDP
Italy's debt was set to rise to its highest level in more than a century in 2021, breaking a record 159.5% of GDP set in 1920, according to forecasts for April.
The budget deficit in 2021 is expected to increase to 11.8% as Europe's third-largest economy seeks billions of euros in loans to help protect its citizens and businesses from the effects of the COVID-19 pandemic.
2020: Rise of public debt to 156% of GDP amid COVID-19 pandemic
Against the backdrop of the COVID-19 pandemic in 2020, Italy's public debt amounted to 155.6% of GDP.
Italy's public debt is close to the anti-record of 1920.
The size of public debt Italy in June 2020 broke another record and reached an all-time high of 2.5306 trillion euros.
Compared to May, Italy's sovereign debt rose by more than 20 billion euros at once, according to the central bank. This was due to increased spending by the central state administration, whose debt increased by 21.7 billion euros. At the same time, the debts of local administrative bodies decreased by 1.2 billion euros.
2018: National debt per capita $59.4 thousand - 5th place in the world
2017: Third place in the world in relation to the national debt to the country's GDP
2015: Public debt rises to €2.16 trillion
In March 2015, the Central Bank of Italy reported that the national debt in January 2015 increased by 31 billion euros and amounted to 2.166 trillion, coming close to the historical maximum of 2.168 trillion euros, which was reached in July 2014.
Italy's public debt in 2015 will amount to 132.5% of GDP, Italian Minister of Economy and Finance Pierre Carlo Padoan said on April 7, 2015. According to him, in 2016, the public debt is expected to decrease to 130.9% of GDP, and in 2018 this figure should decrease to 123.4%. In relation to public debt to GDP, Italy ranks second in the EU after Greece[2].
2014: Public debt growth to 135% of GDP
In 2014, Italy's public debt grew by more than 66 billion euros and reached 135% of GDP.
2013: Public debt 130% of GDP
In the first quarter of 2013, according to Eurostat, Italy's public debt exceeded 130% of GDP.
See also
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