The previous record was set in February 2023, when Italy's sovereign debt first surpassed 2.78 trillion euros.
"It is a new historic record! This exponential growth raises concern and anxiety, given the increase of the interest rate due to a new restrictive monetary policy by the European Central Bank," Massimiliano Dona, the president of the Italian National Consumer Union, said, commenting on a new report by the Italian central bank.
COVID-19 restrictions led to an increase in Italy's state debt to over 155% of the country's gross domestic product (GDP) in 2020. After the limitations were lifted, the national economy started growing again, and the government reduced its support for businesses and citizens. However, the Ukraine conflict, as well as a rapid surge in energy prices caused a significant decline in Italy's GDP and the government debt started to rise once more.
Last month, the EU's statistical office, Eurostat, said that Italy's national debt had reached 144% of GDP in the fourth quarter of 2022.