Each family owes massive one hundred and four thousand, four hundred and eighty two Euros (€104,482) in an European G7 member nation
IT News Nigeria:
Italy, the basket case of debts has accumulated huge burden for next generation as its sovereign debt has set another record, nearly €2.74 trillion, the country’s central bank Reported on Friday.
The regulator added that the number increased by 2.1% compared to December.
The president of Italy’s National Consumers Union, Massimiliano Dona is quoted as saying regarding the new sharp increase that “this is a historical record! If we were talking about the debt of each family, then it would amount to €104,482 – a debt for a heart attack.”
The latest data published by the Bank of Italy said: the nation’s debt increased by 2.1% compared to December. In monetary terms, the growth totaled nearly €59 billion.
Italy’s national debt began growing in January, when, after a two-month break, it again exceeded €2.7 trillion. The previous all-time high was reached in August 2021, when it amounted to €2.735 trillion. By December, it dropped to €2.6784 trillion, making up 150% of the country’s GDP.
