ROME - Italy's public debt exceeded 3,000 billion euros (3,087 billion US dollars) for the first time in November 2024, the Bank of Italy reported Wednesday.

According to the bank, the country's public debt rose by 24 billion euros in November, reaching a record high of 3,005.2 billion euros. The increase was attributed to higher expenditures, coupled with a modest 0.1 percent decline in tax revenues compared to November 2023.

The country's public debt stood at 2,860 billion euros at the start of the year.

Italy remains one of the most indebted countries globally in relation to its economy, with debt equivalent to approximately 136.6 percent of its gross domestic product.