deer Budget structural plan The government, which presented it, envisages a correction in public finances equivalent to about 0.5% of the gross domestic product, or about 12 billion annually, in the years 2025 and 2026, to stabilize after that at 0.5%. This tightening aims to reduce the deficit to 2.8% of GDP by 2026, reaching the ill-fated ceiling of 3%, and thus allowing Italy to exit EU violation procedures. However, public debt will continue to grow even 2027supported by the weight of the Superbonus, which will weigh approx 40 billion Annually up to that point.
According to Il Sole 24 Ore, from 2027 debt will decrease again, while net spending will increase by1.3% in 2025 and 1.6% in 2026Before further facilitation. The tax cut, which has been extended until 2029, will help boost GDP growth by 0.2 percentage points in 2025 and 2026, reaching a total of 0.5% in 2026. 2027. In essence, the government aims to reduce the primary deficit and achieve moderate growth in public spending, but there are no plans to extend the repayment period further. Flat tax Or reduce taxes on average income.
Implementing the investments stipulated in PNRRwhich will greatly impact future growth, as I mentioned Sun 24 hours. So, here we are again: public spending cuts are back, with an impact of about $12 billion a year, along with the return of primary surpluses.
As I explained in this column years ago, we ran primary surpluses, with more taxes than public spending, by about 20%. 25-30 years. We were a utopia, but we destroyed the welfare state, businesses and families. In the meantime, as we downsize and try to balance the accounts, there’s clearly growth Bill It slows down, and as expected, the debt-to-GDP ratio begins to rise again. It is a cycle that seems to repeat itself: a crazy and completely wrong general strategy, at the expense of real economic growth. Are we really building a future or are we simply sweeping dust under the rug and postponing problems for a few years? Obviously I think the answer is the latter. This is why I do the strategy Small and medium enterprisesProviding strategic consultations: Because, unfortunately, a country like the Italian state has not had a strategy for a quarter of a century.
Malvezzi Quotidiani – Human economics well explained with Valerio Malvezzi
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