Deficit at 12.1%, the weight of the tax authorities decreases in the first quarter
Against substantial price stability (+0.1% the cyclical change in the implicit consumption deflator), the purchasing power of households grew by 3.1%. This was stated by Istat when presenting the quarterly account of public administrations and the estimates relating to households and companies, adding that the propensity to save of households was instead equal to 7.6%, an increase of 2.3 percentage points compared to previous quarter. The disposable income of consumer households increased by 3.2% compared to the previous quarter, while final consumption expenditure grew by 0.6%. Household purchasing power increased by 3.1% compared to the quarter previous, thanks to the significant slowdown in price dynamics. The propensity to save of households, while continuing its decline in trend terms, marked the first increase in economic terms after several quarters of decline, settling at 7.6%“, writes Istat commenting on the data.
In the first quarter of 2023, the general government net debt as a ratio to GDP was -12.1%. Indebtedness was instead equal to -11.3% in the same quarter of 2022. This was stated by Istat when presenting the quarterly account of public administrations and the estimates relating to households and companies, emphasizing that the deterioration is due to the “lower incidence of revenue, reflected in a reduction in the tax burden”.
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