Italy’s government deficit was confirmed at EUR 155.6 billion, or 9.5 percent of GDP, in 2020, amid efforts to curb the spread of COVID-19 and support businesses and households hit by the pandemic. It was the highest deficit since at least 1995 but still below the official target of 10.8 percent. Considering only Q4, Italy's budget balance swung to a deficit of 5.2 percent of GDP, compared with a surplus of 1.9 percent in the same period of 2019, due to a jump in government spending and lower revenues linked to the pandemic. In 2019, before the coronavirus, Italy's budget deficit came in at 1.6 percent of GDP, the lowest since 2007. Looking ahead, Italy forecasts an 8.8 percent deficit this year. source: National Institute of Statistics (ISTAT)
Government Budget in Italy averaged -3.25 percent of GDP from 1995 until 2019, reaching an all time high of -1.30 percent of GDP in 2007 and a record low of -7.20 percent of GDP in 1995. 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 May of 2021.
Government Budget in Italy is expected to reach -12.00 percent of GDP by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the Italy Government Budget is projected to trend around -6.00 percent of GDP in 2022 and -2.80 percent of GDP in 2023, according to our econometric models.