Primary balance deficit 5.3%/GDP (Il Sole 24 Ore Radiocor) - Milan, 02 Jul - In the first quarter of 2024, Italy's public sector budget deficit narrowed to 8.8% of GDP from 11.6% a year before, according to the statistics office Istat.

The primary balance to GDP ratio was a negative 5.3%, down from a negative 8.5% in the first quarter of 2023.

The current balance to GDP ratio was a negative 4.1%, down from a negative 5.2% in the first quarter of 2023.

The tax burden ratio was 37.1%, 0.8 percentage points higher than in the same quarter of 2023.

Gross disposable income of consumer households increased 3.5% in nominal terms quarter on quarter and 3.3% in real terms.

The saving rate was 9.5%, with households consumption expenditure growth at 0.5% in nominal terms.

The profit share of non-financial corporations was 42.7%, 1.6 percentage points lower than in the previous quarter.

The investment rate of non-financial corporations was 20.5%, 0.4 percentage points higher than in the previous quarter.

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(RADIOCOR) 02-07-24 12:29:32 (0357) 5 NNNN