Italy's debt-to-GDP ratio rises to 142.4% in Q2

Italy's public debt stood at 142.4% of GDP in the second quarter of 2023, up from 140.9% in the previous three-month period, according to Eurostat data published on Monday, Azernews reports, citing ANSA.

At the end of the second quarter the general government gross debt-to-GDP ratio in the euro area stood at 90.3%, down from 90.7% in the first quarter, the European statistics agency added.

Italy had the second highest public debt-to-GDP ratio among the 20 eurozone countries, after Greece in first place at 166.5%.

It was followed by Spain at 111.2%.

Instead, Italy's deficit-to-GDP ratio decreased from 11.3% in the first quarter to 5.4% in the second quarter, Eurostat said.

Italy had the second largest government deficit in the eurozone, behind Greece at 8.5% and ahead of Spain at 5.1%.

Across all 20 countries in the euro area, the deficit narrowed to 2.9% of GDP from 4.3% in the first quarter of 2023, Eurostat said.