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Italy Government Deficit Narrows In Q4

Italy's public budget deficit narrowed from last year in the fourth quarter, data released by statistical office Istat showed Wednesday.

The general government deficit decreased to EUR11.466 billion or 2.8 percent of GDP in the fourth quarter from EUR17.227 billion or 4.2 percent of GDP in the same quarter a year earlier. In the third quarter, the deficit was 2.5 percent of GDP.

Total revenues increased 2.9 percent on an annual basis to EUR223.508 billion during the three-month period. The value of expenditure edged up 0.2 percent year-on-year to EU234.974 billion.

In the whole of 2011, public deficit dropped to 3.8 percent of GDP from 4.2 percent in the previous year. Revenues advanced 1.9 percent during the year, while expenditures moved up 0.5 percent, the agency said.

by RTT Staff Writer

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