Italy’s government posted a deficit of EUR 127.4 billion, or 7.2 percent of the GDP in 2021, amid a surge in spending aiming at supporting the economy weakened by the Covid-19 pandemic and soaring energy costs. The figure compares to an upwardly revised deficit of 9.6 percent in 2020, the highest since at least 1995, but below the official target of 9.4 percent set by the Italian government. Still, net borrowing remains considerately above the pre-pandemic level of 1.5 percent in 2019, which was the lowest since 2007. Looking ahead, the Italian government aims to have the government budget deficit fall to 5.6% in 2022. source: National Institute of Statistics (ISTAT)
Government Budget in Italy averaged -3.63 percent of GDP from 1995 until 2021, reaching an all time high of -1.30 percent of GDP in 2007 and a record low of -9.50 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 June of 2022.
Government Budget in Italy is expected to reach -5.70 percent of GDP by the end of 2022, according to Trading Economics global macro models and analysts expectations. In the long-term, the Italy Government Budget is projected to trend around -4.50 percent of GDP in 2023 and -2.80 percent of GDP in 2024, according to our econometric models.