Repubblica Economia47 minutes agoPolitics1 min readItalyView original

Giorgetti on flexibility clauses and public accounts: "We work with the European Commission"

The Minister of Economy clarifies the government's position on the deficit/GDP ratio and the priorities for the next budget law

giancarlo giorgetti economy deficit

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The Minister of Economy Giancarlo Giorgetti commented on the deficit/GDP ratio at 3.1%, confirming the work underway with the European Commission for flexibility on defense and energy and reiterating the commitment to reducing taxes on the middle class.

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Why It Matters

Istat has certified that the deficit/GDP ratio for 2025 stands at 3.07%, exceeding the 3% threshold. The government is negotiating with the EU to gain flexibility on specific spending.

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MILAN – "For a year, every day I have been working with the European Commission for this clause (of flexibility for defense and energy expenditure, ed.). We proposed it when no one wanted it. Europe then recognized it, it was obvious and automatic if we had left the infringement procedure. Now it requires an interpretation which we have been working on for some time", said the Minister of Economy, Giancarlo Giorgetti, on the sidelines of question time.

"It's not like yesterday we woke up with 3.1% (deficit/GDP ratio, ed.). Since April we have been evaluating this situation and what could have been done if Istat in its autonomy had confirmed that 3.07% that came out yesterday", he added, after yesterday Istat certified that in 2025 the ratio remained above 3%.

With respect to the elimination of the stamp duty announced last week, Giorgetti reiterated that the executive's intention is to make it structural. As for the plans for the next budget law, the minister explained: "Several times the government has reiterated the priorities regarding the continuation of the process of reducing income taxes for the middle class".

The revision of the Irpef bracket – he added – "is one of the objectives". "Naturally these are choices that will have to converge in a synthesis and the synthesis will take place shortly because first of all the public finance framework will have to be updated", he underlined.