Italy state sector budget surplus at 6 billion euros in April

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(Reuters) – Italy posted a state sector budget surplus of 6 billion euros ($6.32 billion) in April compared to a shortfall of 12.625 billion euros in the same month last year, the Treasury said in a statement on Monday.

The difference came mainly from European Union’s grants provided under the Recovery Fund scheme, designed to help the economy rebound from the COVID-19 pandemic hit, it added.

The first four months of the year showed an aggregate budget deficit of about 24 billion euros compared with a shortfall of 53.78 billion euros in the same period of 2021.

($1 = 0.9501 euros)