Tax pressure in Italy and economic data for the first quarter of 2024

Tax pressure rises to 37.1%

According to the latest Istat report, tax pressure in the first quarter of 2024 rose to 37.1%, marking an increase of 0.8% compared to the same period in 2023. This data reflects an increase in tax revenues relative to the country’s overall income.

Reduction in net borrowing of public administrations

Istat also highlighted a decrease in the net borrowing of public administrations, which fell to 8.8% compared to 11.6% in the first quarter of 2023. This result indicates an improvement in public finance management.

Growth in household disposable income

In nominal terms, household disposable income increased by 3.5% compared to the previous quarter. This increase has had a positive impact on purchasing power and the spending capacity of Italian households.

Increase in consumer spending and savings propensity

Household consumer spending recorded a 0.5% increase, demonstrating greater confidence in the economy and a propensity to spend more. At the same time, the savings propensity grew by 2.6%, reaching 9.5%. This data suggests that despite increased spending, Italian households are also setting aside a larger portion of their income.