MILAN (AP) — Italy does not need any new budget measures to confront the sovereign debt crisis, Premier Mario Monti said Friday even as he acknowledged his disappointment that Italian borrowing costs have continued to rise.

Italy’s borrowing costs have risen steadily in recent weeks due to fears that the government will not be able to handle its high debt load. On Friday, the 10-year bond yield was up 0.23 percentage points at 6.13 percent. The higher borrowing costs raise pressure on Italy, which needs to keep going to the markets to pay down its public debt of €1.9 trillion ($2.3 trillion) representing 120 percent of GDP.