ROME, Feb. 15 (Xinhua) -- Italy's public debt reached 2.86 trillion euros (3.08 trillion U.S. dollars) at the end of 2023, an increase of 105 billion euros compared to the level a year ago, the Bank of Italy said on Thursday.
Italy's debt was estimated to be equivalent to around 140 percent of GDP at the end of last year, down from a debt level of 141.7 percent of GDP at the end of 2022, the bank said in a statement.
The biggest part of the increase came from 89 billion euros spent on public administration, it said.
On Thursday, the European Commission downgraded its estimates for Italian economic growth this year to 0.7 percent, from 0.9 percent previously. Its growth forecast for Italy is 1.2 percent for 2025. (1 euro = 1.08 U.S. dollar) ■