Ukraine War Fatigue Fuels Defense-Spending Downgrade Plan in Italy
- On Friday, Italian Prime Minister Giorgia Meloni's government will issue new economic forecasts, hiking this year's growth estimate to close to 1% while scaling back planned defense spending to manage massive public debt.
- During a Cabinet meeting on Thursday, Deputy Prime Minister Matteo Salvini successfully pushed to reduce the defense windfall by up to €8 billion, citing budgetary constraints and internal coalition divisions.
- Previously planned defense windfalls of up to €22 billion via the "national escape clause" will now be limited to around €14 billion annually through 2028, a reduction of up to €8 billion.
- Balancing NATO's 5% spending target against voter opposition, Meloni faces political tension as public debt is expected to peak at 139% of GDP this year, overtaking Greece.
- The 2027 budget, finalized later this month, will serve as Meloni's final spending plan before national elections next year amid difficult economic conditions in Europe's third-largest economy.
57 Articles
57 Articles
In 2026, Italy intends to comply with the EU deficit limit of three percent for the first time in seven years. However, the budgetary gap is likely to rise again in 2027 due to higher expenditure on defence and energy.
The Codm's green light to the Programmatic Document and the report on the deviation. The request is worth approximately 14 billion in 2027 and as many in 2028
The Council of Ministers opens the yard of the budget law. On the table the Public Finance Programmatic Document and the update of the balance of the State. Here is what changes and what to expect in Parliament. The article Manovra 2027, what is on the table of the Board of Directors: from the Dpfp to the budgetary deviation comes from The Truth.
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