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. source: National Institute of Statistics (ISTAT)
Italy recorded a Government Budget deficit equal to 3.40 percent of the country's Gross Domestic Product in 2024. Government Budget in Italy averaged -3.93 percent of GDP from 1995 until 2024, reaching an all time high of -1.30 percent of GDP in 2007 and a record low of -9.40 percent of GDP in 2020. This page provides the latest reported value for - Italy Government Budget - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Italy Government Budget - data, historical chart, forecasts and calendar of releases - was last updated on February of 2026.
Italy recorded a Government Budget deficit equal to 3.40 percent of the country's Gross Domestic Product in 2024. Government Budget in Italy is expected to reach -2.80 percent of GDP by the end of 2026, according to Trading Economics global macro models and analysts expectations. In the long-term, the Italy Government Budget is projected to trend around -2.60 percent of GDP in 2027, according to our econometric models.