The ship of public administrations is increasingly heavy, according to Bank of Italy. In June, debt increased by 0,6 billion compared to the previous month, reaching 2.075,1 billion. A new record for the debt stock, always above 2000 trillion since January. The data is contained in the supplement to the public finance statistical bulletin of the Bank of Italy.
“The increase – explains Palazzo Koch – is attributable to the significant increase (13,9 billion) in Treasury liquidity which more than offset the large surplus of public administrations (13,5 billion). At the end of the month, the Treasury's liquid assets reached 76,3 billion, against 46,1 in June 2012”.
"In June - continues the note - tax revenues amounted to 46,3 billion, an increase of 21,5 percent (8,2 billion) compared to those of the same month in 2012 (38,1 billion) . In the first six months of the year, the increase in debt (86,5 billion) reflects the general government borrowing requirement (44,5 billion) and the increase in Treasury liquidity (41,9 billion).”
The public administrations' ship is also weighed down by the 8,2 billion in support for euro area countries in difficulty (including Italy's share of the loans disbursed by the European Financial Stability Facility - EFSF - equal to 5,3, 2,9 billion and the payment made in April of the third tranche for the subscription of the capital of the European Stability Mechanism - ESM - for 50,8 billion). This support - Bank of Italy says - has reached a total of XNUMX billion.
