Italy Jan-June public deficit narrows y/y to 5.0% of GDP

ROME (Reuters) -Italy's public budget deficit narrowed in the first six months of this year to 5.0% of gross domestic product (GDP), compared with 5.9% in the same period of 2024, official statistics agency ISTAT said on Friday.

The narrower deficit reflected strong growth in revenues, which were up 5.5% year-on-year in the first six months, outstripping a 3.1% increase in public spending.

In the second quarter, the deficit amounted to 2.0% of GDP, down from 3.8% in Q2 2024.

The first quarter was revised to 8.1% from an 8.5% estimate made in June.

Italy's government said on Thursday the full-year 2025 deficit will come in at 3% of GDP this year, respecting the European Union's ceiling for the first time since 2019 and below a previous target of 3.3%.

(Reporting by Antonella Cinelli, editing by Gavin Jones)

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