Italy's sovereign debt hits record

In 2020, the Italian National Institute of Statistics has recorded an unprecedented decline in Italy's GDP and an increase in national debt amid the COVID-19 pandemic.

Report informs, citing the foreign media, that Italy's GDP last year amounted to 1.651 trillion euros.

Due to the government's emergency measures to combat the pandemic, the decrease in GDP amounted to 8.9% over the year.

Simultaneously, the size of Italy's public debt at the end of last year amounted to 2.569 trillion euros, that is, 155.6% of GDP.

For comparison, in 2019, the national debt was 134.6% of GDP. The size of the country's sovereign debt in August 2020 reached an all-time high - almost 2.579 trillion euros.