Government net lending/borrowing in Italy

International Monetary Fund · Annual · Importance

IMF forecast (WEO): 2026: -2.8% 2027: -2.6% 2028: -2.4% 2029: -2.5% 2030: -2.5% 2031: -2.7%

-7.843 (Q1-26) ABS · % of GDP · Quarterly · CSV

Period	% of GDP
Jan 2026	-7.843
Oct 2025	1.407
Jul 2025	-3.183
Apr 2025	-2.707
Jan 2025	-8.405
Oct 2024	0.620
Jul 2024	-2.764
Apr 2024	-3.653
Jan 2024	-8.076
Oct 2023	-6.544
Jul 2023	-6.330
Apr 2023	-4.934
Jan 2023	-10.955
Oct 2022	-6.568
Jul 2022	-8.933
Apr 2022	-5.592
Jan 2022	-11.663
Oct 2021	-5.985
Jul 2021	-7.335
Apr 2021	-8.605
Jan 2021	-14.351
Oct 2020	-5.752
Jul 2020	-9.819
Apr 2020	-12.505
Jan 2020	-10.147
Oct 2019	1.370
Jul 2019	-1.991
Apr 2019	0.476
Jan 2019	-6.085
Oct 2018	-0.376
Jul 2018	-2.503
Apr 2018	0.174
Jan 2018	-6.392
Oct 2017	0.037
Jul 2017	-2.595
Apr 2017	-1.611
Jan 2017	-6.245
Oct 2016	-0.506
Jul 2016	-1.918
Apr 2016	-0.029
Jan 2016	-7.581
Oct 2015	0.213
Jul 2015	-1.723
Apr 2015	-0.803
Jan 2015	-8.034
Oct 2014	0.402
Jul 2014	-2.501
Apr 2014	-1.133
Jan 2014	-8.555
Oct 2013	1.235
Jul 2013	-3.105
Apr 2013	-0.705
Jan 2013	-9.605
Oct 2012	1.509
Jul 2012	-1.457
Apr 2012	-3.042
Jan 2012	-9.475
Oct 2011	-0.783
Jul 2011	-1.916
Apr 2011	-2.851

Period	pp
Jan 2026	-9.250
Oct 2025	4.590
Jul 2025	-0.476
Apr 2025	5.698
Jan 2025	-9.025
Oct 2024	3.384
Jul 2024	0.889
Apr 2024	4.423
Jan 2024	-1.532
Oct 2023	-0.214
Jul 2023	-1.396
Apr 2023	6.021
Jan 2023	-4.387
Oct 2022	2.365
Jul 2022	-3.341
Apr 2022	6.071
Jan 2022	-5.678
Oct 2021	1.350
Jul 2021	1.270
Apr 2021	5.746
Jan 2021	-8.599
Oct 2020	4.067
Jul 2020	2.686
Apr 2020	-2.358
Jan 2020	-11.517
Oct 2019	3.361
Jul 2019	-2.467
Apr 2019	6.561
Jan 2019	-5.709
Oct 2018	2.127
Jul 2018	-2.677
Apr 2018	6.566
Jan 2018	-6.429
Oct 2017	2.632
Jul 2017	-0.984
Apr 2017	4.634
Jan 2017	-5.739
Oct 2016	1.412
Jul 2016	-1.889
Apr 2016	7.552
Jan 2016	-7.794
Oct 2015	1.936
Jul 2015	-0.920
Apr 2015	7.231
Jan 2015	-8.436
Oct 2014	2.903
Jul 2014	-1.368
Apr 2014	7.422
Jan 2014	-9.790
Oct 2013	4.340
Jul 2013	-2.400
Apr 2013	8.900
Jan 2013	-11.114
Oct 2012	2.966
Jul 2012	1.585
Apr 2012	6.433
Jan 2012	-8.692
Oct 2011	1.133
Jul 2011	0.935
Apr 2011	6.122

Period	pp
Jan 2026	0.562
Oct 2025	0.787
Jul 2025	-0.419
Apr 2025	0.946
Jan 2025	-0.329
Oct 2024	7.164
Jul 2024	3.566
Apr 2024	1.281
Jan 2024	2.879
Oct 2023	0.024
Jul 2023	2.603
Apr 2023	0.658
Jan 2023	0.708
Oct 2022	-0.583
Jul 2022	-1.598
Apr 2022	3.013
Jan 2022	2.688
Oct 2021	-0.233
Jul 2021	2.484
Apr 2021	3.900
Jan 2021	-4.204
Oct 2020	-7.122
Jul 2020	-7.828
Apr 2020	-12.981
Jan 2020	-4.062
Oct 2019	1.746
Jul 2019	0.512
Apr 2019	0.302
Jan 2019	0.307
Oct 2018	-0.413
Jul 2018	0.092
Apr 2018	1.785
Jan 2018	-0.147
Oct 2017	0.543
Jul 2017	-0.677
Apr 2017	-1.582
Jan 2017	1.336
Oct 2016	-0.719
Jul 2016	-0.195
Apr 2016	0.774
Jan 2016	0.453
Oct 2015	-0.189
Jul 2015	0.778
Apr 2015	0.330
Jan 2015	0.521
Oct 2014	-0.833
Jul 2014	0.604
Apr 2014	-0.428
Jan 2014	1.050
Oct 2013	-0.274
Jul 2013	-1.648
Apr 2013	2.337
Jan 2013	-0.130
Oct 2012	2.292
Jul 2012	0.459
Apr 2012	-0.191
Jan 2012	-0.502
Oct 2011	-0.131
Jul 2011	0.894
Apr 2011	0.262

About this indicator

Source

International Monetary Fund

Frequency

Annual

Release

Published annually (with quarterly advance estimates in some economies), subject to revision with the national accounts.

What it is

Italy's government deficit is the negative balance of general government accounts when spending exceeds revenue over the year; when revenue exceeds spending, there is a surplus. It is compiled by ISTAT and is usually expressed as a share of GDP.

How it's calculated

It is calculated as general government net lending or borrowing under the harmonised ESA 2010 rules, measured against GDP to obtain the ratio. In Italy the primary balance, traditionally in surplus, is watched with particular attention.

Market implications

The deficit drives the government's financing needs and the path of debt, which in Italy is among the highest in the euro area. A high deficit pressures the spread of the Italian bond (BTP) over the Bund and is a key reference for the EU rules and rating agencies.

Limitations

It is a low-frequency figure subject to revision alongside the national accounts. The headline balance should be distinguished from the primary balance (which excludes interest, very high in Italy) and from the cyclical component tied to the economic cycle.