According to what we understand, the Council of Ministers approved the Economic and Financial Document. 2024 GDP has been set at +1%. In the Nadef the planned GDP for this year was at +1.2%.
Debt at 137.8% this year, to then increase to 138.9% in 2025 and 139.8% in 2026. Thus, in the trend framework of the Def viewed by ANSA, the only one indicated in the Document approved by the Council of Ministers, the debt reverses course compared to the path of decline indicated in the Nadef, also in light of the 2023 figure which closed, based on Istat data with a sharp drop, at 137.3% of GDP. In the programmatic framework indicated in the Nadef in the autumn, the debt progressively decreased from 140.1% in 2024 to 139.9% in 2025, up to 139.6% in 2026.
Net debt equal to 4.3% of GDP this year, which will reduce to 3.7% in 2025, 3% in 2026 and 2.2% in 2027. This is what is indicated in the trend framework of the Def approved by the Council of Ministers. The 2024 figure coincides with Nadef’s programmatic estimate, but differs slightly from the numbers indicated for subsequent years: for 2025 Nadef set the deficit bar at 3.6% and for 2026 at 2.9%.
GDP will grow by 1.2% in 2025, 1.1% in 2026 and 0.9% in 2027, as indicated in the trend framework of the Def approved by the CDM, according to what we learn.
“It will be in the fiscal-structural plan that the Government will provide all the elements useful for the construction of the new maneuver”. Government sources made this known. The medium-term structural fiscal plan, envisaged by the new EU governance rules, the sources recall, “when fully operational, will have to be presented to the European authorities by 30 April (with a frequency aligned with the duration of the national legislature, which in our system is set in five years)”; “for the current year, a transitional regime will be applied, which requires the presentation of the Plan to the European Commission by 20 September”.
“For the current year, a transitional regime will be applied”, which provides for the presentation of the structural fiscal plan to the European Commission “by 20 September”, according to government sources on the Def, underlining that “in the current phase in which the operational indications on how the Plan should be set up, the possibility of suspending the old procedures to avoid emptying the political act of content has been agreed at European level”. It is “a linear process – it is explained – which will be concluded in time for the finalization of the Budget Law for 2025, without any risk of generating uncertainty on the markets”.
As regards the forecasts on economic growth in the Def, the government intends to continue with the method adopted so far, providing numbers “as realistic as possible, not inflated nor too conservative”, excluding however the international economic situation “volatile due to ongoing conflicts “. A working method, government sources underline, “that has given and continues to give results”. Furthermore, “the heavy impact of the superbonus” on public finances and on the reference macroeconomic data will emerge from the document.
“In principle, the super bonus could have been a right thing but the left-wing government with great demagogy opened the coffers without understanding whether or not the money ended up in the pockets of some cheat. Thus, because of some cheaters we risk paying everyone”, he said. said the deputy prime minister and foreign minister, Antonio Tajani, guest of ‘Start’, on SkyTg24.
Giorgetti: ‘The debt rises due to the weight of the super bonus’
“The deadline for the presentation of the new Def, the fiscal structural program, is set for September 20, but it is our intention to present it even earlier, when all the elements will be available, starting from the technical trajectory” scheduled for “the middle of the month June from the EU”. Economy Minister Giancarlo Giorgetti said this in the press conference after the meeting. “This Def takes into account the decisions, the revolution of the fiscal budget rules at the European level. The implementing provisions are missing, the instructions for building the path”, he recalled.
The rising public debt forecast by the Def “is heavily influenced by the cash flow effects of the super bonus in the coming years” but after 2026 “it would begin to decline”.
“The decontribution which expires in 2024, we absolutely intend to replicate it in 2025, this is the real objective we set ourselves when we define the structural programme”, explained Giorgetti.
“Obviously we are thinking about the ministry we can further move in the direction of spending cuts. We did not hope for the disaster of the super bonus even though I think I have mentioned it here several times. That complicates the picture, honestly.”
“I am the Minister of Economy, Gentiloni is the commissioner, Lagarde is the governor of the central bank: can I express my hope, is it blasphemy? Among fellow ministers we all say this to each other, the commission remains firm, who knows maybe the next one will evaluate differently”, said Giorgetti regarding an extension of the Pnrr beyond 2026. “I have already brought the proposal, they advise me not to insist, but instead I insist but since the Pnrr was approved a war has broken out in Europe , maybe someone didn’t notice.”
Leo: ‘More legal certainty with rationalization of successions’
“We have approved the twelfth draft legislative decree implementing the delegation”. Deputy Minister of Economy Maurizio Leo said this in a press conference at the end of the Council of Ministers, illustrating the legislative decree for the rationalization of registration tax, inheritance and donation tax, stamp duty and other indirect taxes other than ‘VAT. “The main characteristics are simplification, legal certainty and rationalisation”, he explained, underlining that “the most substantial interventions concern the disciplines of trusts, the transfer of family businesses, the succession declaration, the tax settlement and the adaptation of the rules on donations”.
“The current provision does not take into consideration” the issue of fuel price increases, Leo added.
For further information Agenzia ANSA Nadef numbers and upcoming news – News – Ansa.it The change in EU rules will also modify Italian documents (ANSA)
For further information ANSA Agency Smarter successions, family agreements are changing – News – Ansa.it The government aims to simplify all the extensive legislation regarding successions and the many obligations currently required. (HANDLE)
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