Italy needs a further correction of the structural balance of 0,3 points of GDP in 2016 to meet the commitments with the European Commission. To say it is the Parliamentary Budget Office, which already takes into account the 4,5 billion corrective maneuver promised by our country.
The improvement in the structural balance between 2015 and 2016, in fact, would be only two tenths of a point, from -0,6% to -0,4%. A decidedly slower improvement than the 0,5% required by the recovery process, as explained by the president of the Upb Giuseppe Pisauro. Italy has agreed with the EU for 2015 an adjustment of 0,3%.
As for the impact of the manoeuvre, the PBO tends to downsize its scope from an economic point of view, defining it as an "expansive in 2015 and neutral in 2016" reform.
