{"id":451326,"date":"2026-04-23T19:18:44","date_gmt":"2026-04-23T17:18:44","guid":{"rendered":"https:\/\/www.eunews.it\/2026\/04\/23\/dfp-giorgetti-margini-di-bilancio-assottigliati-meloni-conti-sono-in-ordine\/"},"modified":"2026-04-23T19:41:15","modified_gmt":"2026-04-23T17:41:15","slug":"public-finance-document-giorgetti-budgetary-margins-have-narrowed-meloni-the-accounts-are-in-order","status":"publish","type":"post","link":"https:\/\/www.eunews.it\/en\/2026\/04\/23\/public-finance-document-giorgetti-budgetary-margins-have-narrowed-meloni-the-accounts-are-in-order\/","title":{"rendered":"Public Finance Document, Giorgetti: Budgetary margins have narrowed. Meloni: The accounts are in order"},"content":{"rendered":"

Brussels \u2013 Giancarlo Giorgetti sets this out in black and white in the 2026 Public Finance Document: “Budgetary margins are particularly tight.” There are various reasons for this, primarily the international tensions that are dragging down the markets and driving up prices, but the Minister for the Economy assures us that, despite everything, “in the face of a shock of this magnitude<\/strong>, the government will continue to support household disposable incomes and business liquidity<\/strong>.” <\/p>\n

The target of bringing Italy\u2019s deficit-to-GDP ratio back below 3 per cent will not be met this year<\/strong>, but it remains a priority<\/strong>. However, the path forward is hampered by everything that is happening in the world, particularly in the Middle East, where \u201cit is unclear how long the current conflict will last, and in particular how long the Strait of Hormuz will remain totally or partially closed,\u201d writes the head of the Ministry of Economy and Finance. <\/p>\n

Hence, it is difficult to make predictions. If anything, we are proceeding by process of elimination, although, under the current circumstances, \u201cwe are not ruling anything out,\u201d Giorgia Meloni<\/strong> admits <\/span>on her arrival in Cyprus for the EU Summit. The Prime Minister is not ruling out a budget deviation from the list of possible solutions, but first \u201cwe must see what rules we have and then, in the coming weeks, decide how to proceed at the national level.\u201d Certainly, \u201cour priority is to provide answers, but we would prefer to do so within a… comfortable framework.\u201d <\/p>\n

Meloni is not even accepting the accusations from those, such as the opposition, who blame the government for failing to meet the 3 per cent target, partly due to misguided economic policy choices that have thrown the accounts into disarray to a greater extent than is described by the Ministry of Economy and Finance and the Prime Minister\u2019s Office. She dismisses this accusation out of hand: \u201cI don\u2019t think it\u2019s fair to say that. The accounts are in very good order. When we took office, we had a deficit of 8.1 per cent; today it stands at 3.1 per cent.\u201d <\/p>\n

If anything, it is the backlogs from the Superbonus scheme that are weighing heavily\u2014Giorgetti estimated these at 40 billion last year, plus a further 20 billion. Now energy bills are likely to take their toll, which is why the Prime Minister is calling on the EU to take action to prevent the situation from worsening: \u201cIf we do not respond to these proposals in time, we risk suffering serious consequences.\u201d The Italian government, together with other European partners, is calling for the suspension of the Stability Pact\u2019s constraints and a halt to the ETS to give families and businesses some breathing space. <\/p>\n

Brussels, on the other hand, has responded by relaxing the rules on state aid. That\u2019s good, but not great news for Meloni: \u201cFlexibility is fine; it\u2019s reasonable and fair, but we know that fiscal space isn\u2019t the same for everyone, so we need to consider a model where these expenses aren\u2019t counted either, just as we do with the SAFE mechanism for defence spending.\u201d <\/p>\n

Another <\/strong>warning has been sounded by the Parliamentary Budget Office<\/strong>, which endorses the general outlook set out in the Draft Budget Law but warns of forecast volatility<\/span>. This is because \u201cthe international scenario is exposed to very significant risks and the forecasts could be revised, even substantially, within a short period of time.\u201d Meanwhile, the OECD describes Italy\u2019s GDP as “resilient”, but in the long term reforms are needed to boost growth and achieve a substantial reduction in public debt. This is because \u201cfollowing the 0.5 per cent GDP growth recorded in 2025, growth in Italy is expected to slow slightly and fall to 0.4 per cent in 2026 due to the drag exerted by rising energy prices caused by the conflict in the Middle East, before rising again to 0.6 per cent in 2027.\u201d However, the warning is that \u201cuncertainty remains high.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Meloni: “We need to see what the rules are and then, over the coming weeks, decide how to proceed at the national level”<\/p>\n","protected":false},"author":7403,"featured_media":447110,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"episode_type":"","audio_file":"","podmotor_file_id":"","podmotor_episode_id":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","filesize_raw":"","date_recorded":"","explicit":"","block":"","jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"1","show_comment_section":"1","number_popup_post":"1","show_author_box":"0","show_post_related":"1","show_inline_post_related":"0"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","subtitle":""},"jnews_primary_category":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[25705],"tags":[25741,25742,33870,26002,25740,33394,29394],"class_list":["post-451326","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-debt-en","tag-deficit-en-2","tag-giorgetti","tag-meloni-and","tag-accounts-public-en","tag-ue","tag-vertice-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/posts\/451326","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/users\/7403"}],"replies":[{"embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/comments?post=451326"}],"version-history":[{"count":1,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/posts\/451326\/revisions"}],"predecessor-version":[{"id":451327,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/posts\/451326\/revisions\/451327"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/media\/447110"}],"wp:attachment":[{"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/media?parent=451326"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/categories?post=451326"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/tags?post=451326"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}