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Even Mario Draghi did not avoid the worst

Even Mario Draghi did not avoid the worst

Italian public debt, things keep getting worse: an absolute record. To what happened in the past months?

Bank of Italy (Photo Facebook)

Italy continues to deal with a decades-old problem, Public debtAnd what does it matter! Hoping that there will be higher than expected GDP growth or that the positive impact of inflation on the country’s accounts may lead to some good news, the situation is currently very uncomfortable.

The relationship between the state budget and GDP is still negative. In the months he was prime minister Mario Draghi “Good” public debt has often been distinguished from “bad” debt, and in fact it is.

For centuries, all nations have resorted to debt to finance major business and all possible interventions. The important thing is to keep it under control. However, from the latest data from the Bank of Italy, there are no comforting aspects.

Italian Public Debt: What Happened

Important news not to be missed today:

In June, debt rose by another 11.2 billion compared to the previous month, reaching a figure 2766.4 billion euros.

It is clear that the calculations will eventually be done and Economy Minister Daniel Franco He is convinced that the debt-to-GDP ratio will drop this year from 150.8%. From the figures of the Bank of Italy one cannot fail to note an interesting fact: the growth of debt was one of the taxes. In the first half of this year, the value of the first amounted to 218.1 billion, an increase of 11.9 percent (23.2 billion) compared to the same period last year.

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From January to June There was an increase of about 39 billion (+11.6%) over the same period in 2021 in tax revenue. When Draghi took office, the debt was 2.643 billion, and today, when he will soon formally leave his post as head of government, he will leave it at 2766 (+123), an all-time high.

Obviously, it should be taken into account that the country had to face Unique and unpredictable crises Special interventions were needed to help families and businesses. So the public money lost from the appeal has been used for much more, but certainly the situation makes us think that with the former director of the European Central Bank, with whom the accounts had to be very strict, he would leave the post with the highest public debt ever.