ROME (Reuters) – Italian Economy Minister Giancarlo Giorgetti said on Thursday he expected upcoming data on public finances to be better than officially forecast by the government, despite a darkening economic outlook.
National statistics bureau ISTAT will publish full year 2024 data on the budget deficit and the public debt on March 3.
“I always reiterated that the surprise would relate to public finance data. I think that in a few weeks this will be confirmed,” Giorgetti told the upper house of parliament, the Senate.
Rome committed in September to bringing its budget deficit below the European Union’s 3% of gross domestic product ceiling in 2026, down from 3.8% targeted for 2024.
Since then, Italy’s economic activity has been weaker than expected, with gross domestic product stagnating in both the third and fourth quarters of last year.
Industrial production plunged in December by 3.1% from the month before and by 7.1% year-on-year, data showed on Wednesday.
(Reporting by Giuseppe Fonte, editing by Gavin Jones)
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