Italy’s first-quarter 2026 public administration accounts show reduced net indebtedness and improved primary and current deficits. Net debt stood at 7.8% of GDP, down from 8.4% in the same quarter of 2025. The primary deficit was 4.4% of GDP, less than 4.7% previously, while the current deficit reached 2.9% of GDP versus 3.3% last year. Tax pressure was 37.6%, a rise of 0.3 points. Household disposable income increased 1.6% from the prior quarter and consumption grew 1.4%, with a savings propensity of 8.0% up 0.2 points. The implicit consumption deflator rose 0.8%, boosting purchasing power by 0.8%. Non‑financial firms’ profit share fell to 42.8%, down 0.5 points, but their investment rate rose to 24.9%, up 0.3.
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