Add the Gazzetta del Sud as a source
The path of the budget law officially started with the definitive data on the 2025 public accounts from Istat and with the start of the dialogue between Mef and Ubp on the macroeconomic framework developed in view of the next public finance planning document. The maneuver will have to be presented to the Chambers in the second half of October, leaving room for parliamentary examination in November and December. Here are the key dates between now and the end of the year.
By October 2nd
The government must present and transmit to the Chambers the public finance planning document (DPFP) which replaced the old Nadef. It is the document that updates the spring DFP, outlining the new macroeconomic and public finance framework for the three-year period 2026-2028, incorporating the effects of the 2027 budget law on the accounts into the programmatic estimates.
October 9th
It is the Ecofin date which could sanction the activation of the flexibility clause on energy and defence, if Italy were to decide – despite the failure to exit the deficit procedure – to follow up on the request sent to Brussels two weeks ago. In this case, the Ecofin meeting would be preceded by the Commission’s assessment and possible recommendation to the European Council.
October 15th
The government must present and send the Draft Budgetary Plan (Dpb) to the European Commission by mid-month. This is a more streamlined version of the Dpfp, but, in addition to the budgetary objectives, it also contains a skeleton of the measure, with some substantial indications on the financial weight of the most significant measures.
By October 20th
The Council of Ministers must approve the budget bill and send it to Parliament, which thus opens the budget session. The deadline is indicative and is not always respected to the letter. Several days may pass between the CDM’s approval of the text and its sending to the Chambers.
October 21st
Eurostat reports the data on the deficit based on the previous Istat communication. It is on those that the Commission formally evaluates whether or not to proceed with the procedure.
November 17
Brussels publishes its forecasts on the performance of the economy and public finances in the area.
November 24
The European Commission publishes the opinion on the Italian Dpb and on the documents of the other euro area countries at the same time as the European Semester.
By December 31st
The budget law must be approved, with the changes made by Parliament, by the end of the year to avoid running into a provisional exercise.