The previous record was set in March 2023, when Italy's sovereign debt reached 2.79 trillion euros.
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 decline in Italy's GDP and the government debt started to rise once more. In April, the EU's statistical office, Eurostat, said that Italy's national debt had reached 144% of GDP in the fourth quarter of 2022.