Milan, 15 Oct. (LaPresse) – “Last August, general government debt stood at 3,200.8 billion, down by 6.1 compared with the previous month.” This is noted by the Bank of Italy in its publication ‘Public Finance: Borrowing Requirements and Debt’. The decrease “reflects the fall in the Treasury’s cash holdings (16.6 billion, to 59.1), only partially offset by the general government borrowing requirement (10.4 billion) and by the effect of discounts and premiums on issue and redemption, the revaluation of inflation-indexed securities and changes in exchange rates (0.1 billion)”. With regard to the breakdown by sub-sector, “the decrease in debt is attributable to that observed for central government (6.4 billion), partly offset by the slight increase in local government debt (0.2 billion). The debt of social security funds remained unchanged”. “The average remaining maturity of the debt fell slightly to 7.8 years, from 7.9 in the previous month,” continues the Bank of Italy. The share of debt held by the Bank of Italy “continued to fall, standing at 16.4 per cent (down from 16.6 per cent). In July (the most recent month for which this data is available), the share held by non-residents had risen to 36.5 per cent, whilst that held by other residents (mainly households and non-financial corporations) stood at 14.7 per cent (up from 36.2 and 14.6 per cent, respectively).”
Public finances, Bank of Italy: ‘Public debt fell to 3,200.8 billion in August’
Milan, 15 Oct. (LaPresse) – “Last August, general government debt stood at 3,200.8 billion, down by 6.1 compared with the previous month.” This is noted by the Bank of Italy in its publication ‘Public Finance: Borrowing Requirements and Debt’. The decrease “reflects the fall in the Treasury’s cash holdings (16.6 billion, to 59.1), only partially offset by the general government borrowing requirement (10.4 billion) and by the effect of discounts and premiums on issue and redemption, the revaluation of inflation-indexed securities and changes in exchange rates (0.1 billion)”. With regard to the breakdown by sub-sector, “the decrease in debt is attributable to that observed for central government (6.4 billion), partly offset by the slight increase in local government debt (0.2 billion). The debt of social security funds remained unchanged”. “The average remaining maturity of the debt fell slightly to 7.8 years, from 7.9 in the previous month,” continues the Bank of Italy. The share of debt held by the Bank of Italy “continued to fall, standing at 16.4 per cent (down from 16.6 per cent). In July (the most recent month for which this data is available), the share held by non-residents had risen to 36.5 per cent, whilst that held by other residents (mainly households and non-financial corporations) stood at 14.7 per cent (up from 36.2 and 14.6 per cent, respectively).”