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Italy to raise almost €11 billion from financial sector through 2029 to fund budget - Finance news and analysis from Global Banking & Finance Review
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Italy to raise almost €11 billion from financial sector through 2029 to fund budget

Published by Global Banking & Finance Review

Posted on October 15, 2026

1 min read

· Last updated: October 15, 2026

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Italy Aims to Raise €11 Billion From Financial Sector for 2027-2029 Budget

Government Plans for Financial Sector Contributions

Overview of the Budgetary Plan

ROME, Oct 15 (Reuters) - Italy plans to raise almost €11 billion ($12.33 billion) from the financial sector to help fund its budget over the 2027-2029 period, a government document showed on Thursday.

Permanent Contribution Details

The contribution will be permanent rather than a one-off measure, amounting to 0.21% of GDP in 2027, 0.13% in 2028 and 0.1% in 2029, the Draft Budgetary Plan (DPB) sent to European Union authorities said.

Next Year's Financial Sector Contribution

Next year's contribution is worth just over €5 billion.

Lack of Specifics on Implementation

No details were given about the form the measures would take.

Additional Information

($1 = 0.8920 euros)

(Reporting by Giuseppe Fonte, editing by Gianluca Semeraro)

Key Takeaways

  • Italy’s Draft Budgetary Plan (DPB) signals a permanent levy on the financial sector totaling about €11 billion across 2027‑2029 (0.21 % of GDP in 2027, 0.13 % in 2028, 0.10 % in 2029) (morrirossetti.it)
  • Next year’s (2027) contribution alone is just over €5 billion, reflecting the front‑loaded nature of the measure (morrirossetti.it)
  • The levy is part of broader efforts to reduce Italy’s deficit (projected to fall towards 2.8 % of GDP in 2026) and ensure fiscal sustainability while balancing fairness and financial stability (oecd.org)

References

Frequently Asked Questions

How much does Italy plan to raise from the financial sector by 2029?
Italy plans to raise almost €11 billion from the financial sector over the 2027-2029 period.
Is the financial sector contribution in Italy a one-off measure?
No, the contribution from the financial sector is permanent, not a one-off measure.
What percentage of GDP will the financial sector contribution represent?
The contribution will amount to 0.21% of GDP in 2027, 0.13% in 2028, and 0.1% in 2029.
Has the Italian government provided details about the form of the measures?
No, the government document did not specify details about the form the measures would take.
How much is next year's financial sector contribution expected to be?
Next year's contribution from the financial sector is worth just over €5 billion.

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