Italy recorded a Government Budget deficit equal to 3.40 percent of the country's Gross Domestic Product in 2024. This dataset provides the latest reported value for - Italy Government Budget - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In 2024, the budget balance in Italy was -75.55 billion Euros. Between 1988 and 2024, the figure dropped by 11.87 billion Euros, though the decline followed an uneven course rather than a steady trajectory. From 2024 to 2030, the budget balance will rise by 12.29 billion Euros, showing an overall upward trend with periodic ups and downs.

Italy recorded a government budget deficit of 13.39 EUR Billion in September of 2025. This dataset provides the latest reported value for - Italy Government Budget Value - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The budget balance in relation to the gross domestic product (GDP) in Italy stood at -3.45 percent in 2024. From 1988 to 2024, the budget balance rose by 7.13 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. Between 2024 and 2030, the budget balance will rise by 0.99 percentage points, showing an overall upward trend with periodic ups and downs.The indicator describes the general government net lending / borrowing, which is calculated as revenue minus total expenditure. The International Monetary Fund defines the general government expenditure as consisting of total expenses and the net acquisition of nonfinancial assets. The general government revenue consists of the revenue from taxes, social contributions, grants receivable, and other revenue.

In 2023, the government deficit in relation to the GDP in Italy decreased by around *** percentage point compared to 2022. In total, the government deficit amounted to *** percent of GDP in 2023. Net lending/net borrowing shows the financial position of a government after accounting for expenditures. Net lending means that a government is providing financial resources to other sectors, while net borrowing means that a government is borrowing resources from other sectors.

Graph and download economic data for Cash surplus/deficit (% of GDP) for Italy (CASHBLITA188A) from 1973 to 2014 about cash, budget, Italy, and GDP.

Key information about Italy Consolidated Fiscal Balance: % of GDP

• Italy Consolidated Fiscal Balance recorded a deficit equal to 3.5 % of its Nominal GDP in Mar 2025, compared with a deficit equal to 3.4 % in the previous quarter
• Italy Consolidated Fiscal Balance to GDP data is updated quarterly, available from Dec 1999 to Mar 2025, with an average ratio of -3.7 %
• The data reached an all-time high of -1.1 % in Mar 2000 and a record low of -10.4 % in Mar 2021

CEIC calculates quarterly Consolidated Fiscal Balance as % of Nominal GDP from quarterly Consolidated Fiscal Balance and quarterly Nominal GDP. Italian National Institute of Statistics provides Consolidated Fiscal Balance in EUR and Nominal GDP in EUR.


Further information about Italy Consolidated Fiscal Balance: % of GDP

• In the latest reports, Italy National Government Debt reached 3,615.5 USD bn in Sep 2025
• Italy Nominal GDP reached 659.7 USD bn in Sep 2025

Italy recorded a Government Debt to GDP of 135.30 percent of the country's Gross Domestic Product in 2024. This dataset provides - Italy Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The general government's net lending/borrowing indicates the difference between the government's total revenue minus the total expenditure. In the case of a budget deficit, the government resorts to debt to cover the public spending. Italy's budget deficit had reduced from ** billion euros to ** billion euros in the period 2010-2019, before plummeting to *** billion euros due to the COVID-19 crisis. In 2023, the budget deficit reached around *** billion euros, seven percent of the country's GDP.

Overview with Chart & Report: Government Deficit GDP Ratio reflects a percentage difference between Italy's revenues and total expenditures in relation to the national GDP. A positive value indicates a budget deficit, which may

Italy IT: General Government: Primary Balance: % of GDP data was reported at 3.612 % in 2023. This records an increase from the previous number of 3.595 % for 2022. Italy IT: General Government: Primary Balance: % of GDP data is updated yearly, averaging 1.964 % from Dec 1990 (Median) to 2023, with 34 observations. The data reached an all-time high of 5.654 % in 1997 and a record low of -1.787 % in 1990. Italy IT: General Government: Primary Balance: % of GDP data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Italy – Table IT.IMF.FM: Government Finance Statistics.

The statistic shows government revenue and spending in Italy between 2020 and 2024, with projections up until 2030. In 2024, government revenue in Italy amounted to round 1,032.87 billion euros, whereas government spending came to around 1,108.41 billion euros.Post-crisis ItalyGovernment revenue and spending in Italy have been steady at around the 700 billion mark since around 2008; in no year subsequent to this has the Italian government’s revenue or income exceeded its spending. This imbalance of the budget has led to a deficit.The shockwaves sent through the world in the wake of the 2008 financial crisis are still being felt on the Italian peninsula. The combined factors of less than impressive economic growth, not particularly rosy credit conditions and rising unemployment is having a significant impact on domestic industry, which is facing considerable financial difficulty. A further contraction in Italian GDP in 2013 was indicative of a rather bleak picture in Italy.Economic problems have not been helped by the political crisis the country has been experiencing. The political turmoil engulfing the coalition government, triggered in part by former Prime Minister Berlusconi and his party’s unrealistic pledge to end austerity, caused government bond yields to soar. After a protest mass resignation of MPs from Mr Berlusconi’s party, the Italian president intervened stating the nation’s requirement need for constant break ups and the need for a stable government. Business leaders in Italy have also voiced their concerns and warned that any new election would probably result in another stalemate leaving the future of the country uncertain and worrying the financial markets.

Graph and download economic data for General government gross debt for Italy (GGGDTAITA188N) from 1988 to 2024 about Italy, debt, gross, and government.

Key information about Italy National Government Debt

• Italy National Government Debt reached 3,615.5 USD bn in Sep 2025, compared with 3,603.6 USD bn in the previous month.
• Italy National Government Debt data is updated monthly, available from Jan 1957 to Sep 2025.
• The data reached an all-time high of 3,615.5 USD bn in Sep 2025 and a record low of 10.0 USD bn in Feb 1957.

CEIC converts monthly Government Debt into USD. The Bank of Italy provides Government Debt in EUR. The Federal Reserve Board period end market exchange rate is used for currency conversions.


Related information about Italy National Government Debt

• In the latest reports, Italy Consolidated Fiscal Balance recorded a deficit equal to 3.5 % of its Nominal GDP in Mar 2025.
• The country's Government debt accounted for 138.0 % of its Nominal GDP in Sep 2025.
• Italy Nominal GDP reached 659.7 USD bn in Sep 2025.

In July 2021, Italy recorded a government budget deficit of 9.05 billion euros. Between August 2020 and July 2021, the largest budget deficit was reported in December 2020, when it stood at 45.9 billion euros.

In 2020, the government deficit in Italy stood at 155.6 billion euros, or 9.5 percent of the country's GDP. Between 2011 and 2020, the government deficit in relation to GDP decreased and reached the lowest figure in 2019 at 1.6 percent of GDP.

Key information about Italy Consolidated Fiscal Balance

• Italy Consolidated Fiscal Balance recorded a deficit equal to 47.273 USD bn in Mar 2025, compared with a surplus equal to 1.573 USD bn in the previous quarter.
• Italy Consolidated Fiscal Balance data is updated quarterly, available from Mar 1999 to Mar 2025, with an average ratio of -48.290 USD bn.
• The data reached an all-time high of 12.046 USD bn in Jun 2007 and a record low of -72.379 USD bn in Mar 2021.

CEIC converts quarterly Consolidated Fiscal Balance into USD. Italian National Institute of Statistics provides Consolidated Fiscal Balance in EUR. Federal Reserve Board average market exchange rate is used for currency conversions.

Italy IT: General Government: Overall Balance: % of GDP data was reported at -0.027 % in 2023. This records an increase from the previous number of -0.030 % for 2022. Italy IT: General Government: Overall Balance: % of GDP data is updated yearly, averaging -3.017 % from Dec 1990 (Median) to 2023, with 34 observations. The data reached an all-time high of -0.000 % in 2021 and a record low of -11.104 % in 1990. Italy IT: General Government: Overall Balance: % of GDP data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Italy – Table IT.IMF.FM: Government Finance Statistics.

Forecast: Social Security Government Fiscal Balance in Italy 2024 - 2028 Discover more data with ReportLinker!

The Fiscal Monitor surveys and analyzes the latest public finance developments, it updates fiscal implications of the crisis and medium-term fiscal projections, and assesses policies to put public finances on a sustainable footing.

Country-specific data and projections for key fiscal variables are based on the April 2020 World Economic Outlook database, unless indicated otherwise, and compiled by the IMF staff. Historical data and projections are based on information gathered by IMF country desk officers in the context of their missions and through their ongoing analysis of the evolving situation in each country; they are updated on a continual basis as more information becomes available. Structural breaks in data may be adjusted to produce smooth series through splicing and other techniques. IMF staff estimates serve as proxies when complete information is unavailable. As a result, Fiscal Monitor data can differ from official data in other sources, including the IMF's International Financial Statistics.

The country classification in the Fiscal Monitor divides the world into three major groups: 35 advanced economies, 40 emerging market and middle-income economies, and 40 low-income developing countries. The seven largest advanced economies as measured by GDP (Canada, France, Germany, Italy, Japan, United Kingdom, United States) constitute the subgroup of major advanced economies, often referred to as the Group of Seven (G7). The members of the euro area are also distinguished as a subgroup. Composite data shown in the tables for the euro area cover the current members for all years, even though the membership has increased over time. Data for most European Union member countries have been revised following the adoption of the new European System of National and Regional Accounts (ESA 2010). The low-income developing countries (LIDCs) are countries that have per capita income levels below a certain threshold (currently set at $2,700 in 2016 as measured by the World Bank's Atlas method), structural features consistent with limited development and structural transformation, and external financial linkages insufficiently close to be widely seen as emerging market economies. Zimbabwe is included in the group. Emerging market and middle-income economies include those not classified as advanced economies or low-income developing countries. See Table A, "Economy Groupings," for more details.

Most fiscal data refer to the general government for advanced economies, while for emerging markets and developing economies, data often refer to the central government or budgetary central government only (for specific details, see Tables B-D). All fiscal data refer to the calendar years, except in the cases of Bangladesh, Egypt, Ethiopia, Haiti, Hong Kong Special Administrative Region, India, the Islamic Republic of Iran, Myanmar, Nepal, Pakistan, Singapore, and Thailand, for which they refer to the fiscal year.

Composite data for country groups are weighted averages of individual-country data, unless otherwise specified. Data are weighted by annual nominal GDP converted to U.S. dollars at average market exchange rates as a share of the group GDP.

In many countries, fiscal data follow the IMF's Government Finance Statistics Manual 2014. The overall fiscal balance refers to net lending (+) and borrowing ("") of the general government. In some cases, however, the overall balance refers to total revenue and grants minus total expenditure and net lending.

The fiscal gross and net debt data reported in the Fiscal Monitor are drawn from official data sources and IMF staff estimates. While attempts are made to align gross and net debt data with the definitions in the IMF's Government Finance Statistics Manual, as a result of data limitations or specific country circumstances, these data can sometimes deviate from the formal definitions.