Istat set to release revised 2025 deficit-to-GDP figure on 2026-09-22
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What happened
Istat is scheduled to publish on 2026-09-22 a revised 2025 deficit-to-GDP figure for Italy. Economy Minister Giancarlo Giorgetti said in recent days that he is awaiting the revision before judging the scope for Italy to move toward exiting the EU excessive-deficit procedure.
Why it matters
The revised figure can change the government's room for budget measures and its arguments with the European Commission on the fiscal path. A lower deficit ratio would support more flexibility in the budget discussion, while a higher or unchanged figure would narrow room for new measures and sharpen distribution choices inside cabinet.
A concrete fiscal decision point arrives on 2026-09-22, when Istat is due to publish a revision to Italy's 2025 deficit-to-GDP figure. Economy Minister Giancarlo Giorgetti has said in recent days that he is waiting for that number before judging whether Italy has room to move toward exiting the EU excessive-deficit procedure, while also shifting his public wording from confidence to hope. The release matters because it will feed directly into cabinet bargaining over the budget line on tax cuts, pensions and energy support, and into Rome's discussion with Brussels on fiscal space.
Watch for
Istat publication of the revised 2025 deficit-to-GDP figure on 2026-09-22 Ministry of Economy and Finance statement on 2026-09-22 linking the Istat revision to Italy's excessive-deficit-procedure path Giancarlo Giorgetti public remarks by 2026-09-23 on whether the revision changes room for tax cuts, pensions or energy support European Commission spokesperson briefing on 2026-09-22 or 2026-09-23 referencing Italy's revised 2025 deficit data
Sources
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