Italy's GDP fell 8.9% in 2020, down to level of 23 yrs ago

(ANSA) - ROME, MAR 1 - Italy's GDP fell 8.9% in 2020 in terms of volume, ISTAT said Monday, saying it fell to below 1. 6 trillion euros or the level it was in 1997, 23 years ago.
    At market prices, GDP amounted to 1,651,595 million euros, the stats agency said.
    It fell 7.8% in market-price terms.
    The public debt rose to 155.6% of GDP last year due to COVID.
    This was up from 134.6% in 2019.
    The deficit was 9.5% last year.
    This compared to a deficit of 1.6% in 2019.
    The tax burden rose to 43.1% in 2020, ISTAT said.
    This was up from 42.4% in 2019. (ANSA).