General Government consolidated account

The effects that the crisis had on public financing in advanced economies did not fully manifest themselves until 2009, even though they had been already evident in 2008, causing a reduction of revenue, increased expenditures and a worsening balance of public accounts.

In 2009, the consolidated economic account of Governments in Italy showed a worsening of the ratio between net borrowing and GDP, which almost doubled that of the previous year (from 2.7% to 5.3%). In absolute terms, borrowing amounted to 80,800 million euros, 38,225 million euros higher than in 2008.