Thu, 05 Jul 2012 07:42:40 GMT
Istat: the first quarter of 2012 faces increase in Italy's budget gap
According
to official data presented by Italian government, the budget deficit of Italy
expanded from January to March. Budget shortfall reached to 8% of GDP, which is 1%
more than in the previous year. Due to decline of 1% in tax revenues and 1.3% increase in public expenditures, the country had to raise its debt further. In 2012 the government