The EFSA and ECDC's One Health report Italy's deficit/GDP fell to 3,8% last year, 0,7 percentage points lower than in 2010 (4,5%). This was communicated by Istat, explaining that the data on public administration debt in 2011 differs from that calculated for the purposes of the Maastricht Parameter Notification due to the different treatment of swap transactions.
The figure inclusive of swaps, released last March, placed the deficit/GDP ratio at 3,9% in 2011: this means that the higher interest linked to derivative transactions affected the Italian public debt by around two billion euro.
In the fourth quarter of 2011, public administration net debt (raw data) was equal to 2,8% of GDP, a value 1,4 percentage points lower than that recorded in the same quarter of 2010. Also in the fourth quarter of 2011 , the primary balance (debt net of interest expense) was positive and equal to 10.483 million euros. The incidence on the GDP was 2,6%. The current balance (savings) was equal to -3.970 million euros (it had been -1.018 million euros in the same quarter of 2010), with an incidence on GDP of 1%.
in 2011 total revenue increased by 1,9%, showing an incidence on GDP of 46,1% (46% in 2010). Total expenditure, on the other hand, grew by 0,5%, showing an incidence on GDP of 49,9% (50,5% in the same period of 2010).
In the fourth quarter of 2011, total revenues grew, in trend terms, by 2,9%. Current revenue increased by 0,4%. Again in the fourth quarter of last year, total expenditure increased by 0,2% in trend terms. Current outflows increased by 1,8%, while capital account outflows decreased by 19,8%.
