The Public Debt Management Guidelines, the Auction Calendar for 2024 and the Quarterly Issuance Programme for the first quarter of 2024 are now available online.

The Public Debt Guidelines present the public debt management strategy for the coming year.

The 2024 Public Debt Auction calendar contains dates of auctions, announcements and settlements for all government securities for the coming year.

The Quarterly Issuance Program contains all the details on the bonds to be issued in the first quarter of 2024 together with the overall volume of medium-long term debt issuance expected for the next year and a summary of the most recent developments on the macroeconomic and public finance side.

In 2023, Italy issued public debt securities for about 516 billion euros, including almost 360 billion euros of medium-long term bonds and just over 156 billion euros of BOTs (T-bills).

The average cost at issuance, at the end of the 2023, consistently with global rising interest rates scenario, was 3.76%, that compares with 1.71% of 2022.

The average life at the end of 2023 remains stable at around 7 years (6.97 years compared to 7.04 years of 2022). This data improves further if also SURE and NGEU European loans are considered. In the latter case the average life moved from 7.31 of 2022 to 7.25 years of 2023.