Deficit/GDP ratio 1.9 percent first half 2007

| Sun, 10/07/2007 - 03:34

Deficit/GDP ratio 1.9 percent first half 2007Italy's deficit-to-gross domestic product (GDP) ratio stood at 1.9 percent in the first six months of 2007 compared to 2.8 percent in the first half of 2006, according to data issued Wednesday the Statistics Institute ISTAT.

The primary surplus-to-GDP ratio totalled 3.0 percent for January to June 2007, up from 1.8 percent a year ago.

Italy registered a primary surplus of 27.398 bln euro ($38.802 bln) in the second quarter of 2007, ISTAT underlined.

The primary surplus-to-GDP ratio stood at 7.2 percent in the second quarter of 2007, against 5.0 percent in the corresponding quarter of 2006.

It was the best quarterly result since the last quarter of 2000 - which however benefited from a huge windfall from the sale of third-generation mobile phone licenses.

The current-account surplus accounted for 1.1 percent of the GDP in the first six months of 2007, up from 0.5 percent a year ago.

For April to June 2007, the current account surplus accounted for 5.3 percent of the GDP, against 3.9 percent in the same period of 2006.

Tax revenue was up 5.3% in the second half of 2007, Istat said.

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