The Def arrives in the Council of Ministers with a further deviation forecast for 2021 of 40 billion and a new additional fund for Recovery projects of 30 billion, financed in deficit over the duration of the entire 2021-26 plan.
Numbers and times are at the center of the latest, frenetic meetings on a public finance package made more complicated than usual by the unprecedented interweaving of anti-crisis, Recovery and Economic and Financial Document. Tomorrow, April 14, a CDM at 11.30 is on the agenda to give the green light to the budget variance, while the OK to the Def is expected by the end of the weekend.
Deficit to finance the “support bis” decree
But the picture is defined. The new round of deficit to finance the “support bis” decree, which will be entitled to “enterprises”, has risen rapidly compared to initial estimates and now stands at around 40 billion over this year. Threshold that could be exceeded due to the intervention of the 2021 quota of the multi-year variance at which Palazzo Chigi and the Ministry of Economy are working to recover the approximately 30 billion projects that exceed the 191.6 made available by Recovery, and at the same time risk not get the green light from the European Commission and Council.
But the thrust comes first of all from the need to strengthen the aid package for an economy traversed by growing social tensions due to the long pandemic halt, as confirmed by the demonstrations that were also held yesterday.
The national fund parallel to the Recovery Fund, fed in deficits spread over six years, for an average of 5 billion per year, will be used to finance projects in excess of the 191.6 billion (including grants and loans) that will be made available from the European Union. It is still debated whether the intervention will start in 2022 or, more likely, already this year.