Italy's public debt hits new record

| Mon, 01/12/2009 - 09:04

Italy's public debt hit a new all-time high in October of 1,670.2 billion euros, the Bank of Italy reported on Monday.

In September the debt had declined to 1,648.6 billion euros after setting a previous record high of 1,666.6 billion euros in August.

The Bank of Italy on Monday also reported that tax revenue for the first 11 months of 2008 rose to 344 billion euros, up 2.8% over the same period the previous year.

Revenue in November alone amounted to 32.7 billion euros, down marginally from 32.9 billion euros in November 2007.

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