Adnkronos (Adnkronos) – The overall estimated impact of the 2027 budget, including energy and defense measures financed through EU flexibility, is approximately €26 billion. Excluding these measures, the impact of the measures would amount to approximately €12,5 billion, equivalent to a 0,54% reduction in GDP. This is what emerges from initial calculations based on the tables in the Draft Budgetary Document (DBP) submitted to the EU and Parliament.
Energy and defense measures financed through European flexibility are worth an additional €13,5 billion in 2027, bringing the overall estimated impact to around €26 billion.
"The detailed definition of the measures that will be included in the budget bill soon to be presented to Parliament will take into account the outcome of ongoing discussions with the European authorities aimed at better defining the scope of activation of the national safeguard clause," it states.
The largest share of the budget coverage not tied to European flexibility comes from banks and, more generally, the financial sector.
According to the DPB, the sector will contribute 0,21% of GDP, equal to over 4,6 billion euros.
This is followed by cuts to ministries, amounting to 0,05% of GDP, for over 1 billion euros, and the gaming sector, with a contribution equal to 0,03% of GDP.
The tables contained in the draft DPB show an allocation of approximately 2 billion euros for fiscal measures and approximately 2,3 billion for healthcare.
In relation to GDP, the indicated impact is 0,09% and 0,1% respectively in 2027, with a negative sign in the tables in the document.
"The public finance plan for the three-year period 2027-2029 intervenes in an international scenario marked by ongoing geopolitical tensions and their repercussions on prices, particularly energy prices, on household purchasing power, and on the competitiveness of the production system," it states.
"In this context, and in accordance with the guidelines approved by Parliament during the examination of the Public Finance Planning Document (DPFP) and the Report adopted pursuant to Article 6 of Law No. 243 of 2012, the Government places the protection of households' purchasing power, with particular attention to the most vulnerable, at the heart of its budget policy, along with support for businesses and investments."
The protection of purchasing power, as stated in the Budgetary Planning Document, is part of a broader strategy aimed at strengthening the economy's growth potential, continuing the action already undertaken by the Government and simultaneously safeguarding the sustainability of public finances.
The measures for businesses will be aimed at strengthening the competitiveness of the production system, supporting electricity prices for a portion of consumption, and ensuring the security of energy supplies, specifically through increased contributions to investments in photovoltaic systems, the promotion of biomethane, and the conversion of existing biogas plants. "Improving the ability to plan expenditure will help make the use of available resources more effective and support the achievement of the budget's objectives. Measures targeting the financial sector and gaming will also contribute to the budget's financing," the statement adds.
"The budget will also strengthen national defense and energy security by leveraging the flexibility afforded by the national safeguard clause, while adhering to the net spending growth targets outlined in the 2026 DPFP."
Particular emphasis will be placed on financing strategic and infrastructure investments, considered a lever to support growth and strengthen the country's productive capacity. In this context, energy security initiatives will also be focused on strengthening investments in the railway network and upgrading public infrastructure, particularly schools, hospitals, universities, sports facilities, and hydroelectric reservoirs.
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