Arab Today, arab today italy\s public debt hits record high of 1261 of gdp
Last Updated : GMT 09:18:07
Arab Today, arab today
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Italy\'s public debt hits record high of 126.1% of GDP

Arab Today, arab today

Arab Today, arab today Italy\'s public debt hits record high of 126.1% of GDP

Brussels - ANSA

Italy\'s public debt reached a record high of 126.1% in relation to the country\'s gross domestic product (GDP), Eurostat said on Wednesday. The European Union\'s statistics office said the figure was up from 123.7% in the first quarter, which at the time was Italy\'s highest debt-to-GDP ration since it reached 120.9% in 1995. Italy\'s debt level was the second-highest in the EU in the second quarter after default-threatened Greece, which had a 150.3% ratio of government debt to GDP. At the end of the second quarter of 2012, the government-debt-to-GDP ratio of 17-state eurozone stood at 90.0%, compared to 88.2% for the first quarter of 2012. The ratio increased from 83.5% to 84.9% for the EU as a whole. Compared with the second quarter of 2011, the government-debt-to-GDP ratio rose in both the eurozone (from 87.1% to 90.0%) and the whole EU (from 81.4% to 84.9%).

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