Italian debt reached a new record high of 1,661.4 billion Euro in April shooting up for the fourth month in a row, data released last week by the Bank of Italy showed. The debt was some 15 billion Euro higher than in March and was over 50 billion Euro more than in April of last year. According to a recent forecast by the industrial employers’ association Confindustria, Italy‘s debt would dip to 103.2 percent of GDP this year and 102.7 percent next year. Italy‘s debt in 2007 was 104 percent of GDP. Italy‘s debt, the third largest in the world after the United States and Japan, climbed to 105 percent of GDP at the end of the first quarter this year.