Preliminary data from Istat reveals that while Italy continues to grow and consolidate public finances, it is still affected by past choices, particularly the controversial Superbonus program initiated six years ago.
Preliminary data released by Istat depicts an Italy that shows signs of continued growth and improvements in public finances but is still grappling with the financial consequences of past policies, notably the Superbonus 110% scheme implemented by former Prime Minister Giuseppe Conte six years ago. As of 2025, the net debt-to-GDP ratio stands at 3.1%, a slight improvement from 3.4% in 2024, yet marginally above the 3% threshold established in the public finance program document. This tight margin indicates that the country is close to exiting the European excessive deficit procedure, but the lingering financial burden of the Superbonus program complicates this transition.
On the other hand, Italy's economic growth aligns with the government's cautious economic strategy, with real GDP rising by 0.5%, matching government forecasts. The nominal GDP reached €2.258 trillion, reflecting a 2.5% increase, driven significantly by domestic demand, which excludes inventory changes. This resilience in economic activity speaks to the effectiveness of internal consumption as a recovery strategy, showcasing the importance of consumer confidence and spending in the overall economic landscape.
However, the discussion surrounding the Superbonus and its financial implications for Italy remains critical. While the program aimed to stimulate the housing market and promote energy efficiency improvements, its long-term financial impact continues to weigh heavily on the national budget. Policymakers are now faced with the challenge of addressing the legacy of the Superbonus while fostering sustainable economic growth, as perspectives on fiscal responsibility and public spending continue to evolve within the broader European context.
