Italy’s public deficit falls to 3.1% of GDP in 2025
Italy’s general government net borrowing was €69.736 billion in 2025, equal to 3.1% of GDP, according to the Maastricht notification published by Istat on 21 October. That was down from €74.835 billion, or 3.4% of GDP, in 2024.
Event / data period: 2025
Published: · Updated:
The primary balance, which excludes interest spending, recorded a surplus of 0.8% of GDP, improving by 0.3 percentage points from 2024. Interest expenditure, excluding the impact of swap transactions under current accounting rules, was 3.8% of GDP.
Gross general government debt stood at €3.097 trillion at the end of 2025, or 136.7% of GDP. The debt ratio rose by 2.5 percentage points from 2024. Istat said the 2022–2025 outturns were included in the excessive deficit procedure notification submitted to the European Commission.
Data
Italian public finances
2024 and 2025 outturns as a share of GDP
| 2024 public deficit | -3.4 |
| 2025 public deficit | -3.1 |
| 2025 primary balance | 0.8 |
| 2025 interest expenditure | 3.8 |
| 2024 public debt | 134.2 |
| 2025 public debt | 136.7 |
Methodology
Istat Maastricht notification; published ratios in the same GDP-share unit are reproduced without recalculation.
Updated:
Subjects and places
Subject proposals
- EconomySuggested
- Preserved editorial category/topic; broad candidate onlywww.istat.it ↗
- Government budgetSuggested
- Subject suggested from the title or summary: public deficitwww.istat.it ↗
Geographic references
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- Italy · Place role: Coverage · Place type: Country or area · Location precision: RegionalEvidence
- Explicit preserved editorial country/region; no city or national centroid inferredwww.istat.it ↗