The Italian government posted a budget deficit of EUR 153.5 billion, or 8 percent of the GDP in 2022, narrowing slightly from the upwardly revised 9 percent in the previous year. The result was well above the government’s fiscal target of a 5.6 percent shortfall, underscoring Italy’s fiscal problems as drastic tax break programs and pandemic stimulus were accounted for upfront in new revisions. The energy crisis during the year drove the Italian government to aggressively increase spending in stimulus and aid for households and businesses, magnifying Italy’s fragile fiscal health. While the debt/GDP ratio for the country fell by 5.2 percentage points from the previous year to 144.7 percent, it remains well above the Eurozone average. Prime Minister Giorgia Meloni’s new government targets a fiscal deficit of 4.5 percent of GDP this year. source: National Institute of Statistics (ISTAT)

Government Budget in Italy averaged -3.85 percent of GDP from 1995 until 2022, reaching an all time high of -1.30 percent of GDP in 2007 and a record low of -9.70 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 March of 2023.

Government Budget in Italy is expected to reach -3.50 percent of GDP by the end of 2023, according to Trading Economics global macro models and analysts expectations. In the long-term, the Italy Government Budget is projected to trend around -3.30 percent of GDP in 2024 and -3.00 percent of GDP in 2025, according to our econometric models.

Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
Italy Government Budget

Calendar GMT Actual Previous Consensus TEForecast
2022-03-01 11:00 AM 2021 -7.2% -9.6% -5.5%
2023-03-01 10:00 AM 2022 -8% -9%

Related Last Previous Unit Reference
Government Debt to GDP 144.70 149.80 percent of GDP Dec 2022
Government Budget -8.00 -9.00 percent of GDP Dec 2022
Government Spending 80306.20 80253.90 EUR Million Dec 2022

Italy Government Budget
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.
Actual Previous Highest Lowest Dates Unit Frequency
-8.00 -9.00 -1.30 -9.70 1995 - 2022 percent of GDP Yearly