Milan, 15 October (LaPresse) – Last August, public administration debt increased by 25.4 billion compared to the previous month, reaching 3,082.2 billion. This was announced by the Bank of Italy in its statistical publication 'Public finance: funding requirements and debt', emphasising that the increase was due to the rise in the Treasury's cash holdings (+25.3 billion, for a total of 72.1) and the overall effect of discounts and premiums on issuance and redemption, the revaluation of inflation-indexed securities and exchange rate fluctuations (0.7 billion), only minimally offset by the cash surplus (0.6 billion). With regard to the breakdown by sub-sector, central government debt increased by 25.6 billion, while local government debt decreased by approximately 0.2 billion. Social security debt remained essentially stable. The average residual maturity of the debt – unchanged from the previous month – was 7.9 years. The share of debt held by the Bank of Italy decreased to 19.2 per cent (from 19.5 per cent in the previous month). In July (the last month for which this data is available), the share held by non-residents decreased slightly (33.3 per cent, from 33.4 per cent in the previous month), while that held by other residents (mainly households and non-financial corporations, 14.3 per cent, from 14.1 per cent in the previous month) increased.
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