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Italy's 2025 Budget: UPB Analysis
Analysis of Italy's 2025 budget maneuver by the UPB, highlighting its impact on families, businesses, and the overall economy within a context of international uncertainty.
Italian
Kosovo
International RelationsLabour MarketEconomic GrowthBudgetFiscal PolicyItalian Economy
Ufficio Parlamentare Di Bilancio (Upb)Commissioni BilancioCameraSenato
Lilia Cavallari
- Who are the primary beneficiaries of the budget maneuver?
- Families are the primary beneficiaries of the maneuver, receiving a net 55 billion euros over three years, largely through measures for employees. Positive impacts also extend to the National Health Service and social policies.
- What are the main goals of the 2025 Italian budget maneuver?
- The 2025 budget maneuver aims to progressively reduce the deficit-to-GDP ratio, reaching below 3% by 2026, as outlined in the 2025-29 Structural Budget Plan. However, the UPB notes that many interventions lack an organic reform design and don't sufficiently support growth potential.
- How does the maneuver impact businesses and self-employed individuals?
- The maneuver's impact on businesses and self-employed individuals shows improvement in 2025-26 compared to the existing legislation, thanks to interventions on both income and expenses.
- What are the GDP growth forecasts for the coming years according to the DPB?
- The UPB validated the macroeconomic forecasts of the Budgetary Programming Document (DPB), anticipating a GDP growth of 1.2% in 2025, 1.1% in 2026, and 0.8% in 2027, though acknowledging risks.
- What are the main risks and uncertainties in the international economic context?
- The international context presents uncertainty due to geopolitical tensions and the ongoing war, impacting international trade and commodity prices. Italy's growth is slowing, returning to pre-pandemic levels, as the post-pandemic rebound fades.