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[BUSINESS] · Italy · 51 sources

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Italy approves DPFP and 28 billion euro budget deviation request

The Italian Council of Ministers has approved the Public Finance Program Document (DPFP) and a request for a budget deviation to be presented to Parliament. Economy Minister Giancarlo Giorgetti emphasized the need for a prudent approach due to a complex economic context influenced by inflation and ongoing conflicts.

The government is requesting a budget deviation of 0.3% of GDP for both energy and security in 2027 and 2028, totaling approximately 28 billion euros (14 billion per year). This represents a reduction in the planned defense spending compared to previous summer estimates, following political negotiations within the majority.

Economic forecasts have been updated, with GDP growth for 2026 estimated at 1%, an increase from the previous 0.6% projection. However, the deficit is expected to rise to 3.4% in 2027 and 3.3% in 2028, while public debt is projected to reach 138.1% of GDP in 2026 and 138.6% in 2027. The Chamber of Deputies is scheduled to vote on these measures on October 13.

Entities

Chamber of Deputies · Council of Ministers · European Union · Giancarlo Giorgetti · Giorgia Meloni · Guido Crosetto · Italian Council of Ministers · Italian Government · Italy · Matteo Salvini · Ministry of Economy and Finance

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