Bank of Italy stresses need for unity to grow
Country’s debt is expected to approach 160% of domestic output at end of this year
Reuters
February 07, 2021
Banca D Italia (Bank of Italy) sign is seen in downtown Rome, Italy, October 19, 2018. PHOTO: REUTERS
MILAN:
Italy’s central bank called on Saturday for cohesion as the country battles a government crisis, saying it was imperative to revive growth and reduce a public debt that the coronavirus pandemic has pushed to levels last seen after World War One.
Italy’s debt is expected to approach 160% of domestic output at the end of this year, posing a major challenge to an economy which stagnated over the past decade.