ITALY SHOCKED BY GDP SURPRISE
Wednesday, 23 Apr 2008
Italy is set to face the highest rate of inflation since September 1996.
According to new data provided by Eurostat and collaborated by both the Bank of Italy and Istat (the Italian statistics institute); Italy ended 2007’s financial year with a deficit/GDP ratio of 1.9 per cent and a public debt/GDP ratio of 104 per cent.
These latest figures suggest that Italy is at present the country with the highest debt in the European Union, and the third highest globally, following behind Japan and the United States of America.
Italy’s booming property market and housing industry should hopefully give a boost to the Italian economy, so all is not lost – but investors are encouraged to keep a close eye on the markets, especially when deciding on where to invest and purchase property.
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