• Change of culture needed

    The right leadership will help SA shed its culture of violence, says Mandi Smallhorne.

  • 10 tips to find bargains

    Susan Erasmus gives advice on how bargain hunters can get the most bang for their buck.

  • Inside Labour

    Labour's bitter breaches need to be seen in historical context, says Terry Bell.

Loading...
See More

Italy public deficit down

Jan 03 2012 09:18 AFP

Related Articles

Italy bond yields fall, but not far from high

D-day for crucial Italian bond auction

Italy antitrust watchdog fines Apple $1.7m

Respite as Italy debt costs halve at auction

Monti unveils sweeping austerity package

Euro soft after Italian bond auction

 

Milan - Italy, struggling to balance its books and keep in favour with the credit markets, said on Monday that its public finances were better than expected last year.

The finance ministry said the country had a public deficit - the shortfall between tax income and spending - of €61.5bn, down from €67bn in 2010.

The government had expected a deficit of €64.8bn for last year and the better-than-expected showing reflected improved tax revenues and lower spending, the ministry said.

The ministry did not give a figure for the deficit as a percentage of gross domestic product, since a GDP figure for the year will not be available until March.

According to figures given at end-September, the public deficit was equal to 3.2% of GDP in the second quarter, up from 2.5% a year earlier and above the European Union ceiling of 3.0%.

Italy set a deficit target of 3.9% for 2011, aiming to balance the budget by 2013 as it brings total debt equal to 120% of GDP under control through a series of tough austerity packages.

italy  |  europe debt crisis

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 
 

Top 10 richest musicians of all time

Check out the gallery to find out who they are!

 
 

Luxury living

10 of the most expensive things that will leave your jaw hanging!
Seven of the most expensive children's toys ever made
5 millionaires turned murderers
The youngest billionaires in the world and how they made it

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

How do you see your boss? He/sheis:

Previous results · Suggest a vote

Loading...