Thematic Paper Italy Budget
18.10.2019 18

Italy: few ambitions from the new budget framework


18 October, 2019

5 to 10 minutes
Italy: few ambitions from the new budget framework

18 October, 2019

5 to 10 minutes

The essential

On 30 September the newly formed Italian government released an update to April’s Economic and Finance Document, with new fiscal plans for the years 2019 to 2022 and changes to the underlying economic assumptions.

The Update Note to the budget shows little ambition in strengthening growth or shoring up public finances for now and can be seen as a transitional budget, aimed at restoring confidence in Italy’s commitment to comply as much as possible with the EU framework.

In fact, the deficit target for 2020 is set at 2.2%, in line with expectations and within the maximum flexibility Italy could ask from the EU Commission. In trying to remain in line with the goals stated in its program released few weeks ago (i.e., to try to deliver a mildly expansionary budget) without putting public finances at risk, the fiscal projections rely on a few assumptions still uncertain to materialise and highlight the clear weakness of a heavily indebted country.

To find out more, download the full paper


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