Istat has released the data for the first nine months of 2017. The report deficit/GDP it was 2,3%, the lowest level since 2007. The tax burden has decreased, while household income and purchasing power have increased.
With reference instead to the third quarter of 2017, the net debt as a ratio of gross domestic product was equal to 2,1%, compared to 2,4% in the same period of 2016.
As for taxes, the tax burden in the third quarter of 2017 it was 40,3%, down by 0,4 percentage points compared to the same period of 2016. Satisfied Matteo Renzi, who underlined that the tax burden has fallen by two points in the last five years. According to the words of Maurizio Martina, Minister of Agricultural Policies, this is the lowest figure since 2011.
The increases in household disposable income (+0,7% in the third quarter of 2017 compared to the previous quarter) and in consumption, +0,2% also contribute to making the context positive. Consumers' propensity to save thus increased by 0,5 percentage points, rising to 8,2%.
Compared to the second quarter of 2017, the household purchasing power grew, +0,8%.
“Impact monitoring is part of the implementation of an economic policy strategy that started four years ago. Istat data for the third quarter say that we are on the right track: less deficit, less tax evasion, lower tax burden”, commented the Minister of Economy, Pier Carlo padoan, on Twitter Istat data on public accounts. And with a second tweet he adds: "Debt and deficit down, GDP and employment up: the narrow path policies since 2014 are working".
“Encouraging data on public finances – commented on Twitter premier Paolo Gentiloni – the tax burden is starting to drop, the purchasing power of Italian families is finally growing. Results to improve, not to waste”.
Good news also comes from the data on inflation: on average, in 2017 consumer prices recorded a growth of 1,2% after the slight decrease in 2016 (-0,1%). Core inflation, excluding energy and fresh food, stood at +0,7%. The Institute speaks of "a clear trend reversal", which makes it possible to reconnect with the price level of 2013, ie 4 years earlier.
