Italy is mired in record debt amid the 2020 coronavirus pandemic. This is evidenced by the data of the National Institute of Statistics (Istat), writes RIA Novosti.
At the end of the crisis year, the country’s public debt increased to 155.6 percent of GDP (2.569 trillion euros). For comparison, in 2019 the indicator was at 134.6 percent of GDP.
Also, the statistics department recorded a record decline in the country’s GDP. The figure fell to 1.651 trillion euros last year, according to Istat. Its GDP decreased by 8.9 percent over the year.
Earlier it was reported that the Spanish economy faced a record over 100 years of debt burden. The national debt of the country at the end of 2020 increased to 1.311 trillion euros and amounted to 117.1 percent of GDP. This is the worst figure since 1902, according to figures from the kingdom’s central bank. Prior to that, it became known that Great Britain faced the most serious economic recession in 300 years. Last year was the worst in terms of falling GDP since 1709.