{
  "id": 9134878,
  "title": "In blow to Meloni, Italy misses early exit from EU fiscal watch",
  "url": "https://urgent.news/2026/09/22/in-blow-to-meloni-italy-misses-early-exit-from-eu-fiscal-watch",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-22T11:48:03.000Z",
  "source": {
    "name": "Politico EU",
    "slug": "politico-eu",
    "url": "https://www.politico.eu/article/italy-falls-short-of-early-exit-from-eu-fiscal-watch/"
  },
  "original_language": "en",
  "account": "Italy's government has fallen short of curbing public spending to escape EU fiscal surveillance, dealing a setback to Prime Minister Giorgia Meloni as she prepares for 2027's general election. The Italian National Institute of Statistics announced on Tuesday that the disparity between the nation's public expenditure and revenues last year stood at 3.1%, surpassing the EU's budget deficit cap of 3% under the bloc's guidelines for public spending. This breach places Italy within the European Commission's \"excessive deficit procedure,\" a signal that Brussels has flagged for governments requiring improvements in their fiscal health. Italy has been under the European Commission's fiscal scrutiny since 2024, compelling Rome to implement stricter spending limits to rectify the situation. Finance Minister Giancarlo Giorgetti expressed disappointment, stating that Italy will not exit the excessive deficit procedure earlier than anticipated this year, though a resolution could be seen in 2027. The results are disheartening for Meloni's administration before the 2027 national elections, as voters will likely weigh the state of the economy, which has been grappling with energy costs and debt amid the ongoing war in the Middle East. Opposition parties assert that Meloni's failure to meet the deficit target is a direct consequence of her government's austerity-driven economic strategy and a lack of growth-oriented policies. The country's economy is anticipated to expand by 0.6% next year — the lowest growth rate among all European Union members — while its debt is projected to surpass Greece's and reach 139% of gross domestic product.",
  "summary": "The state of the economy will be top of voters’ minds in the 2027 elections.",
  "key_points": [
    "Italy's public spending exceeds revenue by 3.1%, breaching EU's 3% deficit cap",
    "Italy enters excessive deficit procedure, signaling need for fiscal improvements",
    "Meloni administration faces election pressure despite anticipated 2027 exit"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}