In the fourth quarter of 2023, the tax burden in Italy was 50.3 percent, up 1.2% points from the same period last year. The figure was provided by Istat. Gross disposable income and final consumption expenditure of consumer households decreased by 0.1% and 1.0%, respectively, from the previous quarter. Households' propensity to save fell from 7.8% in 2022 to 6.3% in 2023, hitting the lowest level since 1995. The statistics agency explained that the stronger dynamics of household final consumption expenditure (+6.5%, +74.6 billion euros), compared to disposable income, led to a further reduction in the share of income allocated to savings in 2023.
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