Italy public deficit down slightly in Q1

  • News Digest

Jun 27, 2019-

ROME: Italy’s public deficit amounted to 4.1 percent of gross domestic product (GDP) in the first quarter of 2019, down from 4.2 percent a year earlier, the national statistics institute said Wednesday. Seasonal differences meant comparisons could only be made on an annual basis, it added. The country’s tax burden in the first quarter was 38 percent—up 0.3 percentage points on the same period last year, and the highest level since 2015, institute ISTAT said. Italy risks being hit by unprecedented sanctions for running a huge debt and breaking spending promises to the EU. Brussels is expected to open a disciplinary procedure against Italy, unless Rome finds a way to rejig its spending plans for 2019 and 2020. (AFP)

Published: 27-06-2019 09:49

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