Economy minister Giancarlo Giorgetti
on Friday illustrated during a cabinet meeting the mid-term
Structural Budget Plan adopted, with updated figures, the
finance ministry said
In detail, the ministry said that the growth rate of net primary
expenditure forecast, which over the next seven years will have
an average trajectory close to 1.5% will be: 1.3% in 2025; 1.6%
in 2026; 1.9% in 2027; 1.7% in 2028; 1.5% in 2029; 1.1% in 2030
and 1.2% in 2031.
With a GDP estimate of 3.8% this year - below the 4.3% forecast
last April - the government intends to bring the deficit-to-GDP
ratio to 3.3% in 2025 and 2.8% in 2026, which would enable Italy
to exit an excessive deficit procedure, the economy ministry
said after the meeting.
The ministry sources also said that, after ISTAT reviewed GDP
estimates and considering the figures released by the Bank of
Italy on debt, the debt-to-GDP ratio at the end of 2023 went
down to 134.8% compared to the previously estimated 137.3%.
Moreover, "as already noted" in April's DEF economic blueprint,
"the trend over the next years, especially over the 2024-2026
period, will continue to be strongly influenced by the impact"
of the Superbonus programme, introduced by a previous government
headed by M5S leader Giuseppe Conte in 2020, which covered 110%
of the cost of certain renovations, the ministry said.
The debt-to-GDP ration is thus only expected to decline in 2017,
in line with new European budgetary rules under which countries
with excessive debts will be required to reduce it on average by
1% per year after they exit excessive deficit procedures.
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