Deficit Drops Over 5 Points in Four Years Says Giorgetti

Rome: Economy Minister Giancarlo Giorgetti on Wednesday praised the government’s success in managing public finances, highlighting a significant reduction in the deficit by more than five percentage points since the administration took office in 2022.

According to Ansa News Agency, Giorgetti addressed the assembly of joint-stock-company association Assonime, revealing that certain metrics in the government’s Public Finance Planning Document (DPFP) outperformed expectations, with the debt-to-GDP ratio now at 134.9%.

Giorgetti projected that the deficit-to-GDP ratio would consistently remain below the 3% mark starting from 2026, or potentially as early as 2025. He also anticipated a return to primary surpluses for the first time since the onset of the pandemic.

The economy minister emphasized that this achievement equates to a reduction of over 5.5 percentage points in the deficit over a four-year span, dropping from 8.6% in 2022.