(Finance) – Negative operating result of 9,250 million euros (the established forecasts for 2023 signaled -6,684 million euros): this is what emerges from the INPS budget for the year 2024 approved by Board of Directors and Supervision of the Institute.
The budget also provides for expenses for the functioning of the institution amounting to 4,996 million euros, cwith a reduction of 3.9% compared to the 2023 consolidated budget. The Institute’s net asset situation at the end of the 2024 financial year is estimated to be positive by 16,288 million euros, recording a worsening of 4,750 million euros compared to the established 2023 forecasts.The expected revenue from contributions – explains the press release – amount to 263,252 million euros, with an increase of 4.3% compared to the consolidated estimate of the previous year, while the revenues from general taxation will amount to 169,456 million euros, substantially equal to those of 2023. The expected expenditure for the services amounts to 424,689 million euros, an increase of 6.05% compared to the 2023 balance.
Considering the main outgoing items, the budget includes: un expenditure for social security pensions amounting to 310,739 million euros, with an increase of 5.19% compared to 2023, deriving almost exclusively from the revaluations of existing pensions, equal to 5%.
The most significant percentage increase in expenses concerns support for families, which will reach 24,342 million euros (+11.1% compared to the previous year).
As regards the inclusion allowance, an expense of 5,533 million euros is expected, compared to the 7,619 million euros which the last year’s Citizenship Income and Pension amounted to. For Support for training and work, also newly introduced, expenditure of 1,354 million euros is expected.
As regards relief for businesses, this is expectedunder current legislation, a reduction from 26,800 million euros to 19,700 million.
“The 2024 budget was drawn up on the basis of the macroeconomic indicators contained in the Nadef which predict moderate GDP growth for next year and a slowdown in the employment growth trend, with direct effects on social security contributions” underlines Roberto Ghiselli, president of the INPS CIV. “The budget also incorporates the recent regulatory changes that will take effect over the next year, in particular in matters of combating poverty and pensions. It should be remembered that the social security measures being approved with the budget law will lead to a slowdown in retirements, in particular those resulting from forms of exit flexibility (Quota 103, Women’s Option, Social Ape)”.