Deficit/GDP ratio down Q1, tax burden up

(ANSA) - ROME, JUL 5 - Italy's deficit/GDP ratio fell in the first quarter of the year but the tax burden rose, ISTAT said Tuesday.
    Italy's public administration showed a net deficit of 9% of GDP, compared to 12.8% in the first quarter of 2021, the stats agency said.
    ISTAT said this was due to a "marked" increase in revenue which "more than compensated" a rise in outgoing costs.
    The tax burden was 38.4% in the first quarter of 2022, up 0.5 percentage points on the first quarter of last year, ISTAT said.
    The Italian economy is recovering after the peak of the COVID-19 pandemic. (ANSA).