MILAN, Aug 14 (Class Editori) - At the end of June, the debt of Italian public administrations was 2,530.6 billion, with an increase by 20.5 billion since May (2,510.1). This is what the Bank of Italy released in the morning: in the report "Public finance, requirements and debt", it specified how the increase in debt mirrors the monthly requirement (20.6 billion). Treasury's liquid assets fell by 0.8 billion to 60.7 in total. Part of the increase in debt, 0.7 billion, was due to deviations and premiums on issue and repayment, revaluation of inflation-linked securities and changes in exchange rates.
The debt of central administrations grew above all, with an increase by 21.7 billion, while that of local administrations decreased (-1.2). The debt of social security institutions is stable. In the meantime, the average residual life of debt remained constant at 7.3 years compared to May and the share of debt held by the Bank of Italy was equal to 19.2% (+ 0.7%).
Instead, tax revenues entered in the state budget decreased by 6.5 billion, recording a value of 26.2 billion (-19.9% on an annual basis). The reason for this contraction is mainly due to the suspension of some types of tax payments provided for by the decrees approved in March, in addition to the worsening of the macroeconomic situation due to the COVID-19 pandemic emergency.
Lastly, the countervalue of the foreign-held Italian government bond portfolio in May, indicated in the supplement to the Bank of Italy report, remained stable. The countervalue, which in April had recorded the lowest level since May 2019 (677.308 billion), in May amounted at 677.315 billion. The share of non-resident securities on the total amount in circulation, according to esteems by the Reuters agency, is equal to 32.2%, slightly down from 32.9% recorded in April.
(Source: Class Editori)
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