Italy’s GDP inches higher but deficit comes in far worse than forecast
Italy’s economy grew by 0.9% last year, exceeding a 0.7% forecast, the national statistics agency ISTAT confirmed on Friday. This modest victory was nonetheless tempered by a disappointing deficit figure for 2023, which came in at 7.2% of gross domestic product (GDP). The government had pencilled in a deficit of 5.3% for last year, although it was recorded at 8.6% in 2022. In response to the figures, Italy’s Minister of Economy and Finance, Giancarlo Giorgetti, placed some of the blame on the "irresponsible" superbonus scheme, a policy that helps Italians to renovate their homes through tax su...