Italy's public debt reached a record high of 1.9951 trillion euros in September, the Bank of Italy said on Tuesday.
The central bank said the national debt was 19.5 billion euros higher than in August.
The debt rose despite tax hikes introduced as part of Premier Mario Monti's austerity measures contributing to tax revenues increasing by 280 billion euros in the first nine months of this year, a 2.6% increase on the same period in 2011.
The eurozone crisis has caused Italy's borrowing costs to rise and made it more expensive to service the country's massive national debt, which is around 126% in relation to gross domestic product (GDP).
Issuer:
Italy
Issuer profile:
The Italian Government finances its expenditures in excess of tax revenues through the issue of debt securities. The Department of the Treasury is responsible for this task. Government securities is ...
moreOutstanding issues:
| 9 issues | USD | 23,000,000,000 |
| 156 issues | EUR | 1,690,840,559,232 |
| 2 issues | CHF | 3,000,000,000 |
| 4 issues | GBP | 2,450,000,000 |
| 8 issues | JPY | 585,000,000,000 |
| 1 issues | NOK | 2,000,000,000 |
| 3 issues | CZK | 7,470,000,000 |
Issuer's rating:
| Moody's Investors Service | Baa2/Negative | LT Int. Scale (foreign curr) | 04/27/2013 |
| Moody's Investors Service | Baa2/Negative | LT Int. Scale (loc. curr.) | 04/27/2013 |
| Standard & Poor's | BBB+/Negative | LT Int. Scale (foreign curr.) | 01/13/2012 |
| Fitch Ratings | BBB+/Negative | LT Int. Scale (foreign curr.) | 03/08/2013 |
| Fitch Ratings | BBB+/Negative | LT Int.l Scale (local curr.) | 03/08/2013 |
| Rating Agency Expert RA | BBB/ | Foriegn curr. scale | 03/14/2013 |
| Rating Agency Expert RA | BBB/ | Local curr. scale | 03/14/2013 |
