Italy Government Budget

Last Release

Dec 31, 2023

Actual

-7.2

Units In

% of GDP

-8.6

Frequency

Yearly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
-1.3 Dec 2007	-9.6 Dec 2020	-3.99 % of GDP	1995-2023	National Institute of Statistics (ISTAT)

Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus.

Latest Updates

Italy's government budget deficit fell sharply to 3.4% of GDP in 2024, down from 7.2% in 2023, when it was inflated by costly state incentives for home renovations. The deficit also came in below the government's target of 3.8%. However, public debt edged up to 135.3% of GDP, rising from 134.6% in 2023, a four-year low.