Home News From Nadef to the maneuver: thus the deadlines on public accounts are intertwined with the vote

From Nadef to the maneuver: thus the deadlines on public accounts are intertwined with the vote

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From Nadef to the maneuver: thus the deadlines on public accounts are intertwined with the vote

The vote on 25 September falls close to the presentation of the Nadef, a key moment in defining the prospects for the economy, and with the budget law at the gates. Just as the escalation in Ukraine risks further inflaming inflation. And the political confrontation on the deviation is raging.

Nadef by 27 September

On Friday the Istat data on public accounts 2021 (deficit, GDP, debt) is expected, on the basis of which the government must update the Def by finalizing the Nadef, by 27 September, close to the vote. the Government will limit itself to compiling only the tendential part (not the programmatic part), leaving the final decision to the next executive.

The development of the DPB

Then there is the drafting of the DPB (budget planning document, in which the government broadly defines the structure of the maneuver) which by law must be sent to Brussels by 15 October. The Draghi government would have gladly left the task to the new executive but will instead be obliged to write it himself because the new government will take office in the first week of November

The provisional exercise risk

At that point it will be a race against time to write the maneuver that must be approved by Parliament by 31 December, under penalty of recourse to the provisional exercise.

Bearish indicators

Certainly, growth in 2023 will be downsized compared to the Def of last spring (2.3%) and, as a consequence, the objectives of decreasing the deficit (it was set at 3.9%) and the debt could be adjusted: for the rating agency Fitch, which expects a recession (-0.7%), the debt would rise again towards 157% within a decade and therefore a correction would be needed. Both Draghi and Economy Minister Daniele Franco said instead that they do not expect a recession.

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