Istat: “Report deficit / GDP ef 3%.” Sale household income – The Daily

Istat: "Report deficit / GDP ef 3%." Sale household income – The Daily

->

The effect of 80 € payroll starts – timidly – to be felt. But Italians are very cautious, do not spend and prefer to set aside waiting to see which way the wind will turn into the new year. Because in the meantime from the public accounts come crunches little reassuring, with the infamous report deficit-GDP soared well beyond the maximum limit allowed by the European Commission. These are the most important data that emerge from the latest Istat.

The Institute calculated that in the third quarter of 2014 (the first in which the Bonus Irpef worked at full capacity), the “ disposable income ” families, that is what is left after paying for purchases tax and contributions, rose of ’1.8% on the previous quarter and 1.4% year on year, while the first nine months of the year closed with a +1 percent. Likely to play a role in pushing the purchasing power has also had the drop in price ( deflation ) recorded in August and September.

However, was not enough to convince Italians to open the wallet: in fact the final consumption expenditure has been stationary in quarterly terms (although salt on an annual basis, + 0.4% in the third quarter and +0 , 5% in the first nine months) and in parallel has increased by 1.6 points from the previous quarter and 0.9 on the previous year, reaching 10.8%, the propensity to savings.

And if you do not spend, most likely, it is because in the meantime the tax burden continues to rise in the third quarter of 2014 was equal to 40.9 % , higher by 0.7 percentage points over the same period last year. The only encouraging fact is by comparing the nine months between January and September 2014 when the average was 40.7%, the same period last year saw the weight of taxes on GDP even higher, at 40 , 9 percent.

Bad news, then, for Public Accounts : always in the third quarter of 2014 the deficit / GDP, reached 3.5%, higher than 0 , 2 percentage points higher than that measured in the same quarter of 2013 but above 0.5 points too high compared to impose European standards. In the first three quarters of 2014 the ratio was even 3.7%, a decrease of 0.3 percentage points compared to the first nine months of 2013. Of course, this data does not take into account the relief measures included in Law Stability approved in late December, which according to the executive should take exactly 3%. Everything to see if the additional correction decided on the promptings of Brussels will be sufficient: as is known the final judgment on the operation executive Renzi is expected in March and now the Commission is not convinced that the efforts put in place are adequate. So as to have already made it clear that Rome has to contain the deficit by an additional 0.4%, amounting to nearly 6.5 billion euro.

As for the primary balance, that is, the difference between entrances and exits State net of interest expenditure on public debt, in the third quarter of 2014 was positive, with a percentage of GDP by 0.8%, down 0.5 percentage points compared to the third quarter of 2013.

The Treasury can celebrate at least the good performance of the debt interest , which thanks to the reduction rate that the Italian State has to pay to those who buy its shares fell between July and September to 16.8 billion from 18.3 in the same period of 2013: 7.8% less.

->