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Debt-To-GDP To Reach 156% Next Year: Ansa

ITALY

Ansa reports that Italy's government is pencilling in debt-to-GDP to come in at 156% in 2021 with a fiscal deficit of 7% of GDP, with GDP rebounding from -9% in 2020 to +5.1% (and +6.0% when incorporating European recovery funds). This comes ahead of internal government discussions, with Finance Minister Gualtieri likely to present the autumn budget update next week.

Earlier this week, Bloomberg had reported Italy expected debt-to-GDP to reach around 160% by the end of 2020, so the 2021 figure would presumably represent something of an improvement. Nonetheless, these projections are a far cry from the near 135% of GDP at end-2019.

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