Italy's budget deficit slightly better in 2017 at 2.4 pct of country's GDP

Italy's budget deficit in 2017 was 2.4 per cent of the country's gross domestic product, the European Union statistics agency said on Monday, revising up previous estimates of a deficit of 2.3 per cent, in line with data provided by Rome.

The country's debt in 2017 reached 131.2 per cent of GDP, falling slightly from 131.4 per cent in 2016, Eurostat said. The 2017 debt is lower than previous estimates of 131.8 per cent of GDP.

The deficit for the 19-country eurozone was at 1.0 per cent in 2017, down from 1.6 per cent in 2016. The currency bloc's debt dropped to 86.8 per cent of GDP from 89.1 per cent in 2016.

In the previous estimate released in April, Eurostat said the eurozone deficit was 0.9 per cent in 2017, and the debt was 86.7 per cent. 

(With inputs from agencies.)