November 2, 2018 / 5:39 PM / 10 months ago

Italy budget deficit falls in October helped by 5G auction: Treasury

ROME (Reuters) - Italy posted a state sector budget deficit of 3.9 billion euros in October, down by 1.2 billion euros compared with the same month last year, the Treasury said on Friday.

October data includes a 1.25 billion euro cash-in from the government’s fifth-generation (5G) frequency auction, the statement said.

In the first 10 months of this year, the cumulative budget deficit amounted to 53.4 billion euros, 8.9 billion euros less than in the same period in 2017, the Treasury added.

The state sector borrowing requirement (SSBR), a measure of the gap between central government spending and income, differs from the broader “general government” accounts, which the European Union Stability and Growth Pact refers to when assessing countries’ deficit performances.

Italy’s coalition government is locked in dispute with the European Commission over an expansionary 2019 budget which raises the planned fiscal deficit to 2.4 percent of gross domestic product from 1.8 percent this year.

Reporting by Giulia Segreti

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