ROME: Italy’s public budget deficit was stable at 2.3 percent of gross domestic product in the fourth quarter, the same as in the fourth quarter of 2015, official statistics agency ISTAT said.
The 2016 deficit was confirmed at 2.4 percent of GDP, statistics office ISTAT said. The figure was first released in March.
The third-quarter deficit was revised up to 2.3 percent of GDP from a previously reported 2.1 percent.
Rome’s 2017 budget deficit target is now set at 2.3 percent of GDP, but the government may revise its goal when it releases its medium-term public finances document (DEF) next week.
Total public spending declined an unadjusted 0.9 percent on the same period last year, and revenues also declined 0.9 percent, ISTAT said.
Direct tax revenues rose an unadjusted 1.9 percent year-on-year, while indirect tax revenues fell 5.6 percent.
ISTAT gave the following quarterly public finance data. All data are expressed as a percentage of gross domestic product.
