Euro Crisis: Italy GDP to Debt Ratio Beyond Terminal
Euro Crisis: Italy GDP to Debt Ratio Beyond Terminal
Italy’s National Institute of Statistics (ISTAT) announced that in 2012, the country’s debt grew to 127 percent of gross domestic product (GDP), up from 120.8 percent in 2011, reported Xinhua News.
The agency said that real GDP declined 2.4 percent in the year from a year before.
It added that the real GDP figure is less than the 2001 level.
According to Italian media, the contraction resulted from the government’s austerity measures, which are believed to have affected Italy’s economic recovery.
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