Overview

• Istat kept 2024 GDP growth at 0.7% and the deficit at 3.4% of GDP, while trimming the debt ratio to 134.9% from the 135.3% indicated in March.
• The 2023 growth rate was revised up to 1.0% from the previous 0.7% estimate.
• Tax pressure rose to 42.5% in 2024 from 41.2% in 2023, and interest spending increased by 10.1%.
• The Economy Ministry will build the Draft Public Finance Plan on these figures for submission to Parliament by 2 October, with the Parliamentary Budget Office to decide on validation next week.
• The government is signaling that the tax collection "rottamazione" issue will likely be handled in the budget law, with the deputy minister advocating a more selective approach.