The public finance documents contain the economic and financial policies set by the Government. Over the last few decades planning documents have taken on an increasingly crucial role in defining and setting Italy’s economic policy guidelines. In an economy marked by constant and rapid change, they have an important and sensitive role in providing information at the national, European, and international levels, and help make policy choices transparent and visible. The drafting of these documents is a lengthy, complex process that involves all of the MEF’s departments.
Economic and Financial Document (DEF)
The Economic and Financial Document (Documento di economia e finanza - DEF), pursuant to law n. 39 of 7 April 2011, is submitted to Parliament no later than 10 April of each year. It is the main instrument for financial and economic planning, as it sets out the public finance and economic strategies for the mid-term. It is submitted to the Government and approved by Parliament. It comprises three sections and several annexes.
Economic and Financial Document (DEF 2017)
SECTION I
SECTION II
- Economic and Financial Document – Analyses and Trends in Public Finances (Italian Version)
- Economic and Financial Document – Annex to Section II – Analyses and Trends in Public Finances – Methodological Note on Criteria for Formulating Forecast Trends (Italian Version)
SECTION III
Annexes to the DEF
- Report on Implementation of the Reform of Public Finances and Accounting (Italian Version)
- Report on Interventions in Underused Areas. Law 196/2009, Article 10 as amended by Legislative Decree 88/2011, Article 7 (Italian Version)
- Connecting Italy: Infrastructure Requirements and Projects (Italian Version)
- Report by the Minister for the Environment and Protection of Land and Sea Resources on the Status of Commitments to Reduce Greenhouse Gas Emissions. Law 39/2011, Article 2, Paragraph 9 (Italian Version)
- Government Expenditure in the Regions and Autonomous Provinces (Italian Version)
- Fair and Sustainable Wellbeing in the Decision-Making Process (Italian Version)
- Report on the Annual Needs of Goods and Services in the Public Administration and on Savings Achieved with the Consip Agreements. Law 244/2007, Article 2, Paragraphs 569-574 (Italian Version)
Public Finance Document Archive
Updates to the DEF
The “Update to the DEF” is submitted to Parliament no later than 27 September of each year. It updates the public finance and economic forecasts contained in the DEF in light of updated and more reliable information on macroeconomic trends. It includes an update on programme goals, along with notes and amendments to the DEF in light of the recommendations issued by the European Council regarding Italy’s Stability Programme and National Reform Programme.
Annexes:
The Draft Budgetary Plan (DPB)
The Draft Budgetary Plan (Documento Programmatico di Bilancio – DPB) was established by EU Regulation n. 473/2013 (Italian Version). No later than October 15 of every year, Member States submit a draft budgetary plan for the forthcoming year to the Commission and the Eurogroup. In particular, the document must indicate the targeted budget balance and projections for expenditure and revenue.
The Draft Budgetary Plan also contains the methodology, economic models and assumptions, and any other relevant parameters underpinning the budgetary forecasts and the estimated impact of aggregated budgetary measures on economic growth.