ROME (ITALPRESS) – In the second quarter of 2024, PA net borrowing as a ratio of GDP was -3.4 percent (-5.0 percent in the same quarter of 2023). This was noted by Istat. The PA primary balance (debt net of interest expense) was positive, accounting for 1.1 percent of GDP (-0.8 percent in the second quarter of 2023). The PA current balance was also positive, accounting for 1.5 percent of GDP (1.3 percent in the second quarter of 2023). The tax burden was 41.3 percent, up 0.7 percentage points from the same period last year. Disposable income of consumer households increased by 1.2 percent, as did their purchasing power. Consumption grew by 0.4 percent, with consumer households’ propensity to save at 10.2 percent, up 0.8 percentage points from the previous quarter. The profit share of non-financial corporations, at 42.6 percent, decreased by 1.2 percentage points from the previous quarter. The investment rate of non-financial companies, at 22.2 percent, decreased by 0.1 percentage points from the previous quarter.
“In the second quarter of 2024,” is Istat’s comment, “the ratio of the general government deficit to GDP decreased compared to the same quarter of 2023; the primary balance turned positive for the first time since the fourth quarter of 2019. Household purchasing power increased for the sixth consecutive quarter, benefiting from the persistent slowdown in price dynamics. The profit share of nonfinancial corporations continues its decline after the upward phase experienced until the first quarter of 2023.”
– Istat press office photo –
(ITALPRESS).
