The Council of Ministers examined the outlines of the medium-term structural budget plan, which were presented as part of the reform of the European budget rules.
The net spending trajectory included in the plan, which is the only new indicator monitored by the Commission, is in line with the European authorities’ expectations. The Mef makes it known. Over the time horizon covered by the plan, the growth rate of net spending will stabilize at an average value close to 1.5%. Moreover, the trajectory is in line with the trend of the main fiscal balances already projected by the Stabilization Programme last April.
The government continues to pursue “a prudent and responsible fiscal policy, proposes a path back from excessive deficits that is realistically more ambitious than that envisaged by the European Commission through the technical path, and commits itself to falling below the threshold of 3% of GDP.” The deficit-to-GDP ratio is already in place in 2026. “After 2026, the proposed path will make it possible to ensure the stability of Italian public debt and allow public finances to face future challenges more effectively.”
The plan also defines the strategic lines relating to the reforms and investments that the government intends to implement within the reference horizon, particularly those relating to extending the adjustment period from 4 to 7 years. The plan, as the memorandum specifies, includes reforms and investments that continue the path followed with the Pnrr and update it to act more decisively to address challenges such as public administration, justice, improving the business environment and tax compliance.
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