Istat: new GDP in 2013 will not change. Improve deficit and debt – ANSA.it

Istat: new GDP in 2013 will not change. Improve deficit and debt – ANSA.it

The deficit-GDP ratio in 2013 improved by 0.2 points, stopping at 2.8% instead of 3.0% results from previous estimates. And ‘the result of the recalculations made by ISTAT, according to the new European System of Accounts (Sec2010). In absolute terms, net debt was reduced by approximately $ 2 billion.
In particular, the reduction of the deficit-GDP ratio is affected by the change in the rules on swaps, for derivatives, which escapes from counting valid for the EU and for the excessive deficit procedure. The “interest flows arising from transactions in derivative financial instruments are now considered financial transactions and their effects are no longer recorded in interest expense,” says the Mayor. He adds: “In the current version the latter are, therefore, adjusted net effect associated with the transactions in derivatives, with varying effects on individual years.”

Level for 2013 increases by 3.8 %
Compared to figures released in March 2014, calculated on the basis of the ‘old’ system of national accounts, the level of nominal GDP for 2013 was revised upwards by 3.8%. This was communicated by Istat in accordance with the new rules. With the new calculation, the amount of GDP (nominal gross domestic product), the power-salt the previous estimate of 58.88 miliardi- but the annual rate of change remains the same (-1.9%). On the other hand the level increases for all the years considered and then discards tend to ‘vanish’.

In 2013 do not change, -1.9%
The rate of change in GDP in volume of 2013 does not change, remaining equal to -1.9%. The notes to the Istat recalculating the gross domestic product in accordance with the new European system of national accounts.

Recalculate tax pressure in 2013 (-0.5%) to 43.3%
The tax burden for 2013 will be reduced by 0.5 percentage points to 43.3% from 43.8%.

Debt falls in 2013 to 127.9%
public debt, 2013, recalculated by Istat, stood at 127.9% of GDP, from 132.6% calculated under the old system. The statistics on public debt are treated by the Bank of Italy and Istat states that “further information will be available with the Supplement ‘Public Finances, borrowing requirement and debt’ of October 14.” The previous estimate of the debt dates back to 2013 spread Istat released March 3.