In the fourth quarter of 2022, the tax burden was 50.5%, down by 1 percentage point compared to the same period of the previous year. Istat reports it. But the good news ends there. “The growth in household disposable income (+0.8%), accompanied by a particularly strong growth in consumer prices in the same quarter, led to a significant decrease in purchasing power (-3.7%)”, he continues the report of the Statistical Institute. “The stability of final consumption expenditure (+3% in nominal terms) was therefore accompanied by a marked decline in the savings rate”.
And again: «In the fourth quarter of 2022, the net debt of general government in relation to GDP was equal to -5.6% (-4.9% in the same quarter of 2021). The primary balance of the Public Administrations (debt net of interest expense) was negative, with an impact on GDP of -0.7% (-1.2% in the fourth quarter of 2021). Overall, in the year 2022 the public administrations recorded a net debt equal to -8.0% of GDP, an improvement compared to -9.0% in 2021