Rome

Pensions institute predicts 10.7-bln-euro deficit in 2013

Shortfall up over 2012 predictions

Pensions institute predicts 10.7-bln-euro deficit in 2013

Rome, February 26 - Italy's national social security institute (INPS) said Tuesday its budget deficit for 2013 would be nearly 2.8 billion euros more than originally predicted. The new projected deficit was just over 10.7 billion euros compared to a forecast of just short of eight billion euros at the end of 2012. The increase was partly due to a shortfall at the former national insurance institute for civil servants (INPDAP), now part of INPS.

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