Record Increase‍ in⁢ Public Debt

Italy’s public debt rose​ to a record €3,082.2 billion in August, marking an increase of €25.4 billion ⁢compared to the previous month. This data⁢ was released by the Bank of ⁤Italy ‍in its monthly statistics on needs and debt.

Drivers of the Increase

The substantial ⁤increase in debt is primarily attributed to ⁢a €25.3 billion rise in the Treasury’s liquid assets,bringing ⁤the total to ‍€72.1 billion.​ Additional contributing factors included the‌ combined effect of discounts and premiums related to bond issuance ⁤and redemption, revaluation‌ of inflation-indexed securities, and fluctuations in exchange rates, totaling €0.7 billion. These increases​ were partially offset by a ‍cash surplus⁤ of €0.6 billion.

Debt Breakdown by Sector

Analyzing ‌the debt⁤ by ‍subsector, central administrations saw an increase​ of €25.6 billion. Conversely, debt held by local administrations ⁤decreased slightly, by approximately €0.2 billion. Debt ‍levels within social‌ security institutions remained relatively stable during the‍ period.

debt Maturity and Ownership

The average remaining maturity of Italy’s ‌debt remains consistent‌ at‌ 7.9 years. The​ Bank of Italy’s share‍ of the total debt decreased to 19.2 percent in August,‍ down‍ from 19.5 percent the ‍prior month.

In July, the latest month for which data⁢ is⁣ available, non-resident holdings experienced a minor decrease ⁤to 33.3 percent (from 33.4 percent). Concurrently, debt ‍held by othre‍ residents – including ⁣families and non-financial businesses – increased to 14.3 percent, up from 14.1 percent.