5. Italy – Debt Deficit: 132.50% of GDP
The home of pizza and pasta, ancient historical sites, one of the greatest football team, and many other things, that is Italy. With so many world-known heritages which they surely can turn into foreign exchange, then what is the matter with Italy?
Actually, Italy has been working hard to boost their financial sector. In fact, it has $2,147,744 worth of GDP. Yes, two million dollars. Then why is the country still need financial help of public debt?
Italy suffers from weak investment, ageing population, vested business interests, and poor regulation. The Italian government doesn’t spend much on providing public services. This leads to the lack of tax earnings from its people benefits of those services.
Until today, Italy still suffers from weak growth and low inflation. Hopefully, these issues will be resolved by the government.
