Italy’s finance minister warns that higher European interest rates hinder debt management

Italy's Economy Minister Giancarlo Giorgetti pointed out the need to maintain control over public finances and public debt in Italy, especially with the European Central Bank raising interest rates to combat inflation related to rising energy costs. He explained that higher interest rates increase borrowing costs for households, businesses, and the government, emphasizing the importance of maintaining debt stability and market confidence. The government anticipates that public debt will rise to 138.6% of GDP by 2026, affected by higher financing costs, which adds pressure on economic management through plans to stabilize finances and reduce the deficit, despite challenges posed by rising energy prices and tightening monetary policy.

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