Rome

Debt of local government on the rise

Regions least virtuous

Debt of local government on the rise

Rome, June 14 - The debt of Italy's local governments rose to a total of 115.5 billion euros in April, up from the 115.3 billion recorded the previous month but down from the 118 billion in April 2012, the Bank of Italy said on Friday. Overall regions were the most indebted compared to provinces and municipal administrations, the central bank said. Regional debt climbed by 1.37 billion in April from the previous month to 46.7 billion, and grew by six billion euros in 12 months. The debt of provinces registered a small contraction in April down to 8.26 billion from 8.5 in March. Municipalities were the most virtuous among local administrations with a 45.5 billion euro debt in April compared to the 46.5 billion registered in March and 51 billion in April 2012.

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