The annual budget of her prime minister Italy Giorgia Meloni is expected to reveal this week how soon Italy will be able to re -comply with the rules of the European Union, in a crown of the prime minister’s budgetary achievements so far.
The plan to be revealed in the coming days will show that the Italian deficit will return below the 3% EU GDP ceiling by next year, with the tempting perspective that even the 2025 deficit could be below that limit.
Such a result is “possible”, Finance Minister Giancarlo Giorgetti said earlier this month, but warned that the results depend on Italy’s financial performance in the last quarter. Officials have described this hope as uncertain when drafting the budget in recent weeks, sources say.
Whatever the case, the deficit course will be a separate feature of the plan for 2026 that will be signed by Meloni and its cabinet, which includes a program aimed at reducing middle class taxes, even if the Italian economy is struggling to achieve significant growth. Following the approval by the ministers, the budget will be submitted to Parliament.
Italy has not made a deficit below 3% since 2019, before the pandemic. Even its achievement next year would be earlier than it was initially predicted – an accelerated timetable that is intense in opposition to France, which is expected to remain above this threshold for the coming years in the midst of prolonged political diamonds.