Italy revises up 2017 deficit-GDP ratio, revises down debt-GDP

Sept 21 (Reuters) - Italy's budget deficit as a proportion of national output was slightly higher last year than previously estimated but the debt was lower, national statistics institute ISTAT reported on Friday.

ISTAT revised up the 2017 budget deficit to 2.4 percent of gross domestic product (GDP) from a 2.3 percent estimate made in April, while leaving the 2016 ratio unchanged at 2.5 percent.

ISTAT revised down the debt-to-GDP ratio for the last two years, with the latest figures showing the ratio inched down marginally between 2014 and 2017 while remaining between 132 percent and 131 percent, up from 129 percent in 2013.

The figure for 2017 was revised to 131.2 percent from 131.8 percent, while 2016 was revised to 131.4 percent from 132.0 percent.

Italy's debt-to-GDP ratio is the highest in the euro zone after Greece's.

ISTAT revised up last year's GDP growth to 1.6 percent from a 1.5 percent estimated made in April, and raised 2016 growth to 1.1 percent from 0.9 percent.

The revisions are part of ISTAT's standard data release calendar and reflect the arrival of more complete economic data.

The statistics institute revisited growth and public finance data for the last five years, as it does every year in September. Most revisions were marginal. (Reporting By Gavin Jones)

2018-09-21 10:01:49

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