Def, towards deficit at 10.4% and debt / GDP at 155%

• Def: possible postponement of the Council of Ministers, towards a deficit increase of 55 billion

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The Def on which we work hard in these hours presents numbers that well photograph the difficult economic situation that Italy, brought to its knees by Covid-19, is experiencing.

In the agreement reached during the night at the MEF, in a meeting going on until 1.30, as far as we learn, the GDP has been set at -8%, the deficit reaches a ceiling of + 10.4% (The government would stand preparing to ask Parliament for a deviation from the deficit targets of up to 55 billion, to which must be added the 30 billion for state guarantees on business loans) and the debt / GDP ratio rises up to 155%.

A CDM is expected, which is now assumed for the late evening today.

Stop the VAT safeguard clauses from 2021
In the Def, always according to the agreement reached during the night, the government will then put in black and white the stop to the VAT safeguard clauses, which for the next year would have weighed on the public finances for 20.1 billion. These are the numbers that should be the subject, in the next few hours, of a confrontation between Prime Minister Giuseppe Conte, Minister Roberto Gualtieri and the heads of delegation of the majority forces. Meeting to be held before the CDM. The idea is to absorb and therefore annul the clause once and for all, also to give a signal - explain sources of the various parties of the majority - of stability of public accounts with respect to financial markets.