KSE100 34350.42  ▲ Increased By 231.03 (0.68%)
KSE30 15000.89  ▲ Increased By 85.48 (0.57%)
BR100 3516.22  ▲ Increased By 11.22 (0.32%)
BR30 18244.64  ▲ Increased By 13.27 (0.07%)

Business Recorder Logo

Jun 07, 2020 PRINT EDITION
World

Italy's state sector deficit up by 3.4bn euros in August

MILAN: Italy posted a state sector budget deficit of 2.2 billion euros ($2.5 billion) in August, compared with a surplus

September 02, 2019

MILAN: Italy posted a state sector budget deficit of 2.2 billion euros ($2.5 billion) in August, compared with a surplus of 1.2 billion euros a year earlier, the treasury said on Monday citing a delay in some tax payments to Sept. 30.

Higher pension spending also contributed to the 3.4 billion euro increase in Italy's state sector borrowing requirement last month.

By contrast, interest payments on Rome's high public debt fell by 800 million euros year-on-year.

Italy's state sector deficit for the first eight months of the year totalled 32.3 billion euros, down from 29.7 billion in January-August 2018.

Copyright Reuters, 2019