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Ministry of Economy and FinanceSTATE SECTOR REQUIREMENT FOR NOVEMBER 2008

Press release N° 182 of 12/01/2008

The state sector requirement for the month of November 2008 on a provisional basis was 3,500 million, around 300 million less than the figure for November 2007 of 3,778 million.

In the first eleven months of 2008 a total requirement of around 55,800 million was recorded, over 14,000 million in excess of the figure of 41,749 million.for the same period in 2007.


Compared to last year, the requirement for November caters for greater payments to the regions by way of resources than in previous years and also for a decrease in revenue from VAT, from other indirect taxation and, it is likely, from reduced revenue in the form of payments on account of IRES - corporation tax - and IRAP - a regional tax on production; this as a result of probable deferments in payments of these taxes linked to the much discussed reduction of the percentage to be paid on account, a measure subsequently enacted by Decree Law No 185/2008.

Negative aspects taking a toll on the bill for the month have been more than compensated for by contained spending, largely as a result of the lower interest burden connected with debt management policy.

Rome 12/01/2008

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