Italy's public debt tops 3 trillion USD for 1st time

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Italy's public debt tops 3 trillion USD for 1st time

STORY: Italy's public debt tops 3 trillion USD for 1st time DATELINE: May 16, 2023 LENGTH: 0:00:55 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of monuments in Rome 2. various of banks in Rome 3. various of shops in Rome STORYLINE: Italy's public debt climbed above 3 trillion U.S. dollars in the latest reporting period, according to data released Monday. The Bank of Italy said that the government's debt was 2.790 trillion euros (3.022 trillion dollars) in March, up from 2.762 trillion euros (2.992 trillion dollars) in the previous month. It was the third consecutive month that the country's public debt went up and it is the first time that the figure crossed the 3 trillion dollars level. Despite the increase in public debt, Italy's ratio of debt to gross domestic product (GDP) has fallen since reaching an all-time high of around 155 percent of GDP during the peak of the coronavirus pandemic in 2020. The Italian economy afterwards has grown, and the debt-to-GDP ratio has declined to 144

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