Government net lending/borrowing in Italy

International Monetary Fund · Annual · Importance

IMF forecast (WEO): 2026: -2.9% 2027: -2.8% 2028: -2.5% 2029: -2.5% 2030: -2.5% 2031: -2.7%

-1.996 (Q2-26) ABS · % of GDP · Quarterly · CSV

Period	% of GDP
Apr 2026	-1.996
Jan 2026	-8.920
Oct 2025	2.649
Jul 2025	-4.207
Apr 2025	-2.098
Jan 2025	-9.392
Oct 2024	1.541
Jul 2024	-3.424
Apr 2024	-2.769
Jan 2024	-9.495
Oct 2023	-5.367
Jul 2023	-6.661
Apr 2023	-4.284
Jan 2023	-12.462
Oct 2022	-5.278
Jul 2022	-9.848
Apr 2022	-4.898
Jan 2022	-12.759
Oct 2021	-4.743
Jul 2021	-7.613
Apr 2021	-8.324
Jan 2021	-16.054
Oct 2020	-5.196
Jul 2020	-10.061
Apr 2020	-11.436
Jan 2020	-11.472
Oct 2019	2.188
Jul 2019	-2.430
Apr 2019	1.179
Jan 2019	-7.445
Oct 2018	0.214
Jul 2018	-2.896
Apr 2018	1.204
Jan 2018	-7.843
Oct 2017	0.739
Jul 2017	-3.059
Apr 2017	-0.710
Jan 2017	-7.635
Oct 2016	0.632
Jul 2016	-2.492
Apr 2016	0.685
Jan 2016	-9.045
Oct 2015	1.360
Jul 2015	-2.697
Apr 2015	0.260
Jan 2015	-9.460
Oct 2014	2.254
Jul 2014	-3.660
Apr 2014	-0.447
Jan 2014	-10.185
Oct 2013	2.899
Jul 2013	-4.080
Apr 2013	-0.067
Jan 2013	-11.167
Oct 2012	3.583
Jul 2012	-2.614
Apr 2012	-2.365
Jan 2012	-11.315
Oct 2011	0.287
Jul 2011	-2.441

Period	pp
Apr 2026	6.924
Jan 2026	-11.569
Oct 2025	6.856
Jul 2025	-2.109
Apr 2025	7.294
Jan 2025	-10.933
Oct 2024	4.965
Jul 2024	-0.655
Apr 2024	6.726
Jan 2024	-4.128
Oct 2023	1.294
Jul 2023	-2.377
Apr 2023	8.178
Jan 2023	-7.184
Oct 2022	4.570
Jul 2022	-4.950
Apr 2022	7.861
Jan 2022	-8.016
Oct 2021	2.870
Jul 2021	0.711
Apr 2021	7.730
Jan 2021	-10.858
Oct 2020	4.865
Jul 2020	1.375
Apr 2020	0.036
Jan 2020	-13.660
Oct 2019	4.618
Jul 2019	-3.609
Apr 2019	8.624
Jan 2019	-7.659
Oct 2018	3.110
Jul 2018	-4.100
Apr 2018	9.047
Jan 2018	-8.582
Oct 2017	3.798
Jul 2017	-2.349
Apr 2017	6.925
Jan 2017	-8.267
Oct 2016	3.124
Jul 2016	-3.177
Apr 2016	9.730
Jan 2016	-10.405
Oct 2015	4.057
Jul 2015	-2.957
Apr 2015	9.720
Jan 2015	-11.714
Oct 2014	5.914
Jul 2014	-3.213
Apr 2014	9.738
Jan 2014	-13.084
Oct 2013	6.979
Jul 2013	-4.013
Apr 2013	11.100
Jan 2013	-14.750
Oct 2012	6.197
Jul 2012	-0.249
Apr 2012	8.950
Jan 2012	-11.602
Oct 2011	2.728
Jul 2011	0.174

Period	pp
Apr 2026	0.102
Jan 2026	0.472
Oct 2025	1.108
Jul 2025	-0.783
Apr 2025	0.671
Jan 2025	0.103
Oct 2024	6.908
Jul 2024	3.237
Apr 2024	1.515
Jan 2024	2.967
Oct 2023	-0.089
Jul 2023	3.187
Apr 2023	0.614
Jan 2023	0.297
Oct 2022	-0.535
Jul 2022	-2.235
Apr 2022	3.426
Jan 2022	3.295
Oct 2021	0.453
Jul 2021	2.448
Apr 2021	3.112
Jan 2021	-4.582
Oct 2020	-7.384
Jul 2020	-7.631
Apr 2020	-12.615
Jan 2020	-4.027
Oct 2019	1.974
Jul 2019	0.466
Apr 2019	-0.025
Jan 2019	0.398
Oct 2018	-0.525
Jul 2018	0.163
Apr 2018	1.914
Jan 2018	-0.208
Oct 2017	0.107
Jul 2017	-0.567
Apr 2017	-1.395
Jan 2017	1.410
Oct 2016	-0.728
Jul 2016	0.205
Apr 2016	0.425
Jan 2016	0.415
Oct 2015	-0.894
Jul 2015	0.963
Apr 2015	0.707
Jan 2015	0.725
Oct 2014	-0.645
Jul 2014	0.420
Apr 2014	-0.380
Jan 2014	0.982
Oct 2013	-0.684
Jul 2013	-1.466
Apr 2013	2.298
Jan 2013	0.148
Oct 2012	3.296
Jul 2012	-0.173
Apr 2012	0.250
Jan 2012	-1.431
Oct 2011	0.289
Jul 2011	0.820

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.