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Italy state sector budget surplus at 650 million euros in August

·1-min read

(Reuters) - Italy posted a state sector budget surplus of 650 million euros ($646 million) in August compared to a surplus of 9.050 billion euros in the same month last year, the Treasury said in a statement on Thursday.

The Treasury mentioned a different scheduling of transfers of resources from the Recovery Fund as one of the reasons contributing to the lower surplus.

The first eight months of the year showed an aggregate budget deficit of 33.70 billion euros, 36.40 billion euros lower compared to the same period in 2021.

($1 = 1.0047 euros)

(Reporting by Luca Fratangelo, editing by Agnieszka Flak)