(Finance) – Starting from an estimate of 3.8% of GDP for the current year (lower than the 4.3% estimated last April), the Government aims to bring the ratio deficit/GDP at 3.3% in 2025 and 2.8% in 2026, which will allow exit from the excessive deficit procedure. This was reported by the Minister of Economy, Giancarlo Giorgetti, illustrating today in the Council of Ministers Structural Budget Plan
Also taking into account the revision of the nominal GDP carried out by Istat and the debt data processed by the Bank of Italy, the reportebito/GDP at the end of 2023 falls to 134.8% (133.6% less compensation relating to construction bonuses) compared to the 137.3% previously estimated. As already noted in the DEF of last April, the trend in the debt-to-GDP ratio in the coming years, especially in the period 2024-2026, will continue to be strongly influenced by the impact on the cash needs of the tax compensations linked to the Super construction bonuses introduced starting from 2020. The debt/GDP ratio, therefore, will only begin a downward trend from 2027, in line with the new rules which provide for it to reduce, on average, by 1 percentage point of GDP following exit from the procedure for excessive deficits.
The Plan – is explained – contains a significant set of reforms and investments, some of which are in continuity with the PNRR. This confirms the government’s determination to work to improve the competitiveness of the Italian economy, promoting sustainable growth and combating demographic decline. At the same time, support for the purchasing power of wages and the commitment to the implementation of the tax reform enabling law are confirmed, including the intensification of the effort to recover tax revenue. The document will be presented to Parliament in the next few hours.