At the end of the first half of last year, per capita income in Italy fell by an average of 8.8% relative to the same period in 2019. Such data from the Bank of Italy published by the Italian media.
This drop in income of Italian citizens was the most significant in the last twenty years. At the time of the global crisis of 2007-2008, the strongest rate of decline in income was lower than this figure, at 5.2%.
The negative impact of the coronavirus pandemic and the restrictions imposed in the country to contain it sharply reduced the income and savings of Italians, leading to a drop in consumption of almost 10% in the first months of 2020.
Italy’s foreign debt rose by 121 billion euros in the first half of the year. Of that amount, April-June, when the hard lockdown was in effect, accounted for 97.4 billion euros. Italy’s debt is one of the highest among European Union countries.