Record taxes in Italy, but not as initially expected: the tax burden will reach 2013% in 44,4, a very high level which limits the previous forecasts of 45,3%. It is one of the data contained in the update note of the Def, the economics and finance document in which the Executive updates the macroeconomic forecasts and which must be presented to Parliament on April 10th. Last year the tax burden was 44% and in 2011 it was 42,6%.
The estimate of the rate still worsens unemployment, which according to the document will reach 11,6% this year, more than the 11,4% expected in the previous update. Unemployment will rise further to 11,8% in 2014.
Spending is also on the rise pensions, which increased disbursements by 2013 billion in 5,7, reaching 16,2% of GDP, from 15,9% in 2012. The government instead reduced the estimate for the interest expense: this year it will settle at 83,9 billion, against the previous forecast of 89,2 billion last November. Interest expenditure decreased from 86,7 billion in 2012, but will rise to 90,3 billion in 2014.
