According to data available for the State Budget execution for the two months of January and February 2011, on a fiscal basis, the State Budget deficit is € 55 million lower than the target set in the 2011 Budget for the first two months of the year. The two first months 2011 State Budget deficit amounts to € 1,024 million compared to a € 1,076 million target.
The 2011 State Budget deficit has grown – as expected – by 8.5% compared to the 2010 deficit during the same period. This is a result of the non repetition of some measures as well as the higher than projected GDP decline during the last quarter of 2010, which has been recently revised for the whole year by ELSTAT.
Net revenues of the ordinary budget amounted to € 7,950 million and declined by 9.1%.
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