An analysis of the income statement of Public Administration carried out by ISTAT in the fourth quarter of 2010 shows that the net debt of PA relative to GDP was 3.8% (it was 4.1% in the third quarter 2009). Overall, in 2010 there was a net debt of 4.5% of GDP, down from 5.3% in 2009.
In the fourth quarter of 2010, the primary balance (debt net of interest expense) was positive and amounted to 3.712 billion euro (it was more than €2,118 million in the third quarter of 2009), with a positive impact on GDP by 0.9% (it was +0.5% in the third quarter of 2009). Overall, for the year 2010 the primary balance in relation to GDP is negative and amounts to 0.1% (it was -0.7% in the previous year). The current balance (savings) was positive in the fourth quarter of 2010 and amounted to EUR 999 million (it was €30 million in the corresponding quarter last year). The impact on GDP was equal to +0.2% (0.0% in the third quarter of 2009). In 2010 the current account balance relative to GDP was negative and amounted to 1.5% (-2.0% in 2009).