Italy's PSBR down five billion euros in first quarter

(ANSA) - Rome, April 1 - Italy's public sector borrowing requirement (PSBR) was 31.7 billion euros in the first three months of 2014, down some five billion euros on the same period last year, the economy ministry said. The reduction was thanks to higher tax revenues, the ministry said, especially increased yields from value added tax, the top band of which went up from 21% to 22% at the start of October.