In 2015, the expenditure for interest payments on government debt fell to its lowest level in seven years. According to Bankitalia figures, expenditure for the interest accrued on Italy's massive public debt amounted to little more than €68.4 billion, slightly lower than in 2010, when it was €68.8 billion. The decrease in debt service cost is largely due to the lower rates determined by the quantitative easing policy launched by the ECB. Over the past three months, the expenditure for interest payments on public debt has progressively dropped, after it reached a peak of over €83.6 billion in 2012. In December 2015, the stock of Italian government debt amounted to €2,169.9 billion, with a €33.8 billion increase in the course of last year.
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