Italy raises 2026 GDP growth forecast to 1% from 0.6%

On October 2, 2026, Italy's Minister of Economy and Finance, Giancarlo Giorgetti, announced that the government has raised its GDP growth forecast for 2026 to 1% from the previous 0.6% estimate. The revised forecast was presented after the Council of Ministers approved the Multi-Year Financial Planning Document. Giorgetti also projected GDP growth of 0.8% in 2027, 0.9% in 2028, and 0.8% in 2029. The budget deficit is expected to remain below the EU's 3% threshold in 2026, but with additional spending on energy and defense, it could rise to 3.5% in 2027, 3.3% in 2028, and 2.4% in 2029. These expenditures amount to about 14 billion euros annually.