Italy's Economy Minister calls for prudence in new budget plan

Italian Economy Minister Giancarlo Giorgetti has called for a cautious approach to the nation's financial planning following the approval of the Programmatic Document on Public Finance (DPFP). The document outlines updated economic forecasts and a request for a budget deviation to be submitted to Parliament.

Key economic projections include an updated GDP growth estimate of 1% for 2026. While the deficit is expected to remain below 3% in 2026, forecasts suggest it may rise to 3.4% in 2027 and 3.3% in 2028. The government is requesting a budget deviation of 0.3% of GDP for energy and security sectors in 2027 and 2028, totaling 28 billion euros.

The next legislative steps involve a vote in the Chamber of Deputies scheduled for October 13, followed by the approval of the Budget Bill framework by the Council of Ministers by October 20.