Green light from the Council of Ministers for the Dpfp and budget adjustment for energy and defense

The Council of Ministers has given the green light to the Public Finance Planning Document (Dpfp), which replaces the Nadef. This was announced by the Minister of Economy Giancarlo Giorgetti at the end of the meeting.

The government has also approved the request to Parliament for the activation of the safeguard clause (Nec) for 2027, with deviations of 0.3% for energy spending and 0.3% for security. A similar provision has been made for 2028. Giorgetti also updated the GDP growth estimate for 2026 to 1%, compared to the previous forecast of 0.6%.

The Public Finance Planning Document (Dpfp) is a document through which the Italian government outlines to Parliament and the European Union its economic forecasts and budgetary objectives for the coming years. It replaces the previous Update Note to the Economic and Financial Document (Nadef).

Its approval comes in a context of global economic uncertainty. The government has revised upward its growth estimates for 2026, but still anticipates a deficit path that is expected to remain below the 3% of GDP threshold this year, before rising in the coming years due to planned investments in strategic sectors such as energy and defense, which are considered priorities under the new European budgetary rules.