Budget deficit: Italy expects rising new debt in 2020

Budget deficit: Italy expects rising new debt in 2020

         Budget deficit Italy expects 2020 with rising new debt The Italian government assumes 2020 of higher new debt. Italy groans under the second highest debt mountain in the euro zone. The Italian government expects higher new debt next year. The budget deficit will be “in the middle between 2, 04 and 2.4 percent” of the gross domestic product, said Minister of Economic Affairs Roberto Gualtieri on Sunday the television station RAI. For this year, the previous government had planned a deficit of 2.4 percent, this target but then because of rising interest rates on government bonds and after a heated dispute with the European Commission to 2, 04 percent reduced. Italy has to present its budget to the Brussels authority next month. The country is groaning under a debt mountain in the amount of more than 130 percent of economic output, the second highest in the euro zone to Greece. The state therefore has to raise a lot of money for debt service and is under observation by financial markets and the European Commission. According to an insider, 2021 the government expects a drop in new debt to 1.8 percent and 2022 to 1.4 percent, according to one person familiar with the matter from the Reuters news agency said. According to 2020, an increase of 0.6 percent is targeted for economic growth as well as one percent for 2021 and 2022. © Handelsblatt GmbH – All rights reserved. Acquire usage rights?          Services offered by our partners       
Read More

Leave a Reply

Your email address will not be published. Required fields are marked *