Italy Feb budget deficit falls steeply year-on-year

Italy posted a state sector budget deficit of 1.6 billion euros in February, down steeply compared to a 9.765 billion euro deficit in the same month of 2019, due to an increase in tax revenues, the Treasury said on Monday. The first two months of the year showed a cumulative budget surplus of 1.4 billion euros, the Treasury said in a statement.

That compared with a deficit of around 8.4 billion euros in the same period of last year.