Thursday, April 2, 2015

Istat: the tax burden rises again at 3% ratio of deficit to GDP – TGCOM

– Taxes still increasing. This is confirmed by Istat that in the fourth quarter of 2014, the tax burden was 50.3%, up 0.1 percentage points over the same quarter of 2013. According to the Institute of Statistics in the first three quarters was 43.5%, up 0.1 percentage points from the previous year (when he stood at 43.4%).

Crisis between GDP and fiscal pressure

Guido Caianiello

Deficit-GDP ratio 2014-3% – In 2014 the ratio of deficit and salt GDP, which stands at 3%, ie 0.1% more than that of 2013, when it stopped at 2.9%. The report also goes in the fourth quarter of last year, rising to 2.3%, 1.1% more than the figure for the same quarter of 2013. The numbers on the previous three quarters of 2014 were revised in improvement.

Sale household income – In 2014 rose 0.2% on household income, which in the last quarter was down 0.4% from the previous quarter and increased by 0.8% over the same period of 2013.

But down corporate profits – It is however still falling in 2014, the share of profit of non-financial companies , accounting for 40.6%, 0.8% less than in 2013. It touches so a new low since the beginning of the relevant series, begun in 1995.

Savings, falls the propensity of households – In 2014, the propensity to save of households was 8.6%, a decrease of 0.3% over the previous year. Propensity decreased in the fourth quarter of 2014, when it stopped at 8.6%, down 0.5 percentage points from the previous quarter and an increase of 0.2% over the corresponding period of 2013. In 2012 the propensity savings had fallen to 7%.

falls interest expenditure – It lowers instead spending on interest expense in the fourth quarter, resulted in decrease of 4.6% compared the same quarter of 2013: it goes from 20.7 billion euro to approximately 19.7 billion euro.

The outputs grow revenue – According to the Institute Statistics in the fourth quarter of the total expenditure increased, in trend terms, by 2.6% and their proportion to GDP has risen so to 57.6% (56.1% in the corresponding quarter of the previous year). The total revenue, always in the fourth quarter, are grown less: in trend terms the difference was + 0.8% with a GDP of 55.3%, up 0.5 percentage points compared to the same quarter of 2013 (54.8%).

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