Italian Budget Deficit Narrows in 2024

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.