The government has set the 2024 budget deficit at 4. © ANSA
- ROME, SEP 28 - The government has set the 2024 budget deficit at 4.3% of GDP in order to be able to follow through on promises to make a structural cut to the labour tax wedge, boost the birth rate and renew civil service contracts, Economy Minister Giancarlo Giorgetti said late Wednesday after the cabinet approved the NADEF update to the DEF economic and financial blueprint, which will provide the basis for next year's budget law.
The decision to"set the bar" for the deficit at 4.3% should "enable us to confirm indispensable interventions for the benefit of low and medium income earners, in particular the wedge cut and bonus measures for the birth rate as well as significant allocations for the renewal of the civil service contract," Giorgetti told reporters.
The bridge, added Giorgetti, like other infrastructure works will be funded through"the infrastructure works fund". "The timeframe and economic commitment depend on the project and its state of progress. The infrastructure ministry has shared the timeframe for funding," he added. Giorgetti also announced a new public spending review amounting to 2 billion euros in cuts in 2024,"including those that have already been foreseen".
"I have two witnesses here beside me, I said during the cabinet meeting that the work that has not been done by individual ministers will be done by the economy minister in their stead, and the spending cuts will even be greater," he added. .
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