The Focus presents an update of the analysis conducted in the PBO’s November report on the 2016-18 public finance measures in the light of the final version of the 2016 Stability Act (Law 208/2015). The paper addresses the public finance policy scenario set out by the Government as impacted by the changes in the size of the measures approved by Parliament. That policy scenario is compared with the November forecasts of the European Commission and accompanied by the assessment of the Commission in its Opinion on the Draft Budgetary Plan. The Focus also highlights the main measures in the budget package and the risks to the sustainability of the public finances. The appendix presents a brief analysis of the one-off measures contained in the Stability Act in the light of the new classification principles for such measures established by the European Commission and summarized in the document.
Text of document (in Italian)