Balance Of Payments: Deficits

Italy’s position on the ‘balance of payments’ front is grave but it is improving slowly. The current account deficit stands at €7,454 million, while the capital account showed a mere €382 million surplus in 2005. The financial account ended showing a surplus of €8,279 million in 2005. The total external debt of Italy, as on September 2005, was €1.4 trillion. At the end of October 2005, the reserve assets of Italy amounted to €52 billion.

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Source IIPM-Editorial,2006