ISTAT said Wednesday that Italy's
deficit-to-GDP ratio surged to 9.6% in 2020, when the Italian
economy and the public accounts were clobbered by the effects of
the COVID-19 pandemic.
That was up from an estimate of 9.5% given in the government's
DEF economic blueprint.
The national statistics agency said Italy's debt-to-GDP ratio
came in at 155.6% last year, slightly down from the previous
estimate of 155.8%.
ISTAT said Italy's GDP dropped 8.9% in 2020, confirming the
previous estimate.
It said the tax-to-GDP ratio was 42.8% last year, up from 42.4%
in 2019.
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