In the first quarter of 2019 theThe tax burden is at its highest level in the last three years. The deficit/GDP ratio is slightly down, which in any case remains light years away from the European objectives. These are the most important data communicated today, 26 June, by Istat.
Going into details, in the first three months of the current year, the tax burden stood at 38%, an increase of 0,3 percentage points compared to the same period of 2018. The national statistical institute Istat specifies that the data refers to the annual comparison, between the same quarters (the annual average of the tax burden is in fact higher ) and that traditionally, in the first quarter the tax burden shows a lower level than in the rest of the year.
Turning to deficit/GDP ratio, in the first quarter of 2019 the figure fell to 4,1% (-0,1% compared to 2018). “The impact of the general government account deficit on GDP fell slightly compared to the first quarter of 2018, corresponding to a trend in expenditure slightly lower than that in revenue (with increases of 1,4 and 1,6 respectively ,XNUMX%)”, comments Istat.
Il primary balance was negative, with an incidence on GDP of 1,3% (-0,9% in the first quarter of 2018), while the current balance, also negative, had an impact on GDP of 1,6% (-1,5% in the first quarter of 2018). The primary balance recorded the worst value since the beginning of 2016.
Among the other data released today by Istat stands out the increase in household disposable income, up by 0,9% compared to the previous three months, while consumption grew by 0,2% in nominal terms. “Consequently – explains the institute – the propensity to save of consumer families was equal to 8,4%, increasing by 0,7 percentage points from the previous quarter”. The purchasing power of households also grew by 0,9% compared to the previous quarter.
“After the two consecutive declines in the previous quarters, household disposable income marked a marked recovery which, thanks to the slowdown in inflation, transferred directly into growth in purchasing power. The rise in income – continues the institute – has translated to a very limited extent into greater consumption, while the propensity to save has increased”.
