Italy Aims to Raise $22 Billion Through Asset Sales to Keep Debt in Check

Italy aims to raise 21 billion euros ($22.2 billion) through asset sales between 2024-2026, equal to 1% of GDP. This is part of efforts to keep debt under control.
The asset sell-off would include stakes in companies subject to existing EU privatization commitments, like Monte dei Paschi bank.
Italy will also sell shares in companies where the state's stake exceeds that needed for strategic direction.
The new targets factor in proceeds from planned asset disposals. Without them, Italy's debt-to-GDP ratio would likely rise rather than edge down.
Italy has a history of missing privatization targets, raising doubts about its latest plans. Past governments failed to deliver on similar pledges.

investing.com

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Posted 9/30/2023, 10:59:00 AM

Italy Aims to Raise $22 Billion Through Asset Sales to Keep Debt in Check

Italy aims to raise 21 billion euros ($22.2 billion) through asset sales between 2024-2026, equal to 1% of GDP. This is part of efforts to keep debt under control.
The asset sell-off would include stakes in companies subject to existing EU privatization commitments, like Monte dei Paschi bank.
Italy will also sell shares in companies where the state's stake exceeds that needed for strategic direction.
The new targets factor in proceeds from planned asset disposals. Without them, Italy's debt-to-GDP ratio would likely rise rather than edge down.
Italy has a history of missing privatization targets, raising doubts about its latest plans. Past governments failed to deliver on similar pledges.

investing.com

Relevant topic timeline:

9/4/2023

Italy sees 2023 deficit above target due to home incentives, sources say

9/4/2023

Belgium raises record 22 billion euros from savers in 'clear signal' for higher bank rates

Belgium has raised 21.9 billion euros from its biggest retail bond sale, as savers embrace government debt over banks due to higher interest rates.

9/22/2023

Italy to Revise Upward Budget Deficit and Growth Forecasts Due to High Rates and Accounting Factors

10/16/2023

Italy Unveils 2024 Budget with Tax Cuts and Spending Boost Despite Rising Deficit

10/16/2023

Italy Unveils €24 Billion Budget for 2024, Raising Deficit and Debt Concerns

10/20/2023

Italy's New Government Pursues Risky Policies, Spooking Markets and Raising Fears of Debt Crisis