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Italy to hike 2014 debt forecast to 132.2 pct of GDP - draft
September 16, 2013 / 5:12 PM / 4 years ago

Italy to hike 2014 debt forecast to 132.2 pct of GDP - draft

ROME, Sept 16 (Reuters) - Italy’s public debt will rise next year to a new record of 132.2 percent of output, up from a previous forecast of 129.0 percent, according to a draft Treasury document obtained by Reuters.

The Treasury is due to officially update its economic and public finance forecasts on Friday.

The debt-to-GDP ratio came in at a record 127.0 percent last year and is forecast at 130.4 percent for 2013. The document did not contain any new forecast for this year.

The document said Italy “cannot afford” to allow its budget deficit to exceed 3 percent of output this year, which would risk a return to the European Union’s blacklist of countries with excessive deficits.

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