March 2, 2020 / 7:02 PM / a month ago

Italy Feb budget deficit falls steeply year-on-year

ROME, March 2 (Reuters) - 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.

Reporting by Giuseppe Fonte, editing by Gavin Jones

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