Italy's GDP fell 8.9% in 2020 in terms of volume, ISTAT said Monday, saying it fell to below 1.6 trillion euros or the level it was in 1997, 23 years ago.
At market prices, GDP amounted to 1,651,595 million euros, the stats agency said.
It fell 7.8% in market-price terms.
The public debt rose to 155.6% of GDP last year due to COVID.
This was up from 134.6% in 2019.
The deficit was 9.5% last year.
This compared to a deficit of 1.6% in 2019.
The tax burden rose to 43.1% in 2020, ISTAT said.
This was up from 42.4% in 2019.
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