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Italy's 2027 budget worth €26 billion, PM Meloni says - Finance news and analysis from Global Banking & Finance Review
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Italy's 2027 budget worth €26 billion, PM Meloni says

Published by Global Banking & Finance Review

Posted on October 28, 2026

1 min read

· Last updated: October 28, 2026

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Italy Approves €26 Billion 2027 Budget With Tax Cuts and Spending Hikes

Key Details of Italy's 2027 Budget Approval

Government Approval and Political Context

ROME, Oct 28 (Reuters) - Italy's government on Wednesday approved its 2027 budget, the last before a general election due next year, which entails tax cuts and spending hikes worth €26 billion ($28.9 billion), Prime Minister Giorgia Meloni said.

Prime Minister's Statement

"I am very satisfied with the consistency, unity and freedom we have shown" in drafting the budget plan, Meloni told reporters speaking at the government headquarters after the cabinet meeting.

Funding Sources for the Budget

Banking and Insurance Sector Contributions

The prime minister said around €5 billion would be collected from banks and insurers to fund the measures envisaged in the budget, while a contribution of some €700 million would come from energy groups.

Exchange Rate Reference

($1 = 0.8993 euros)

Reporting Credits

(Reporting by Giuseppe Fonte; writing by Angelo Amante, editing by Gianluca Semeraro)

Key Takeaways

  • The budget, worth about €26 billion (~$28.9 billion), is the last before general elections due by late 2027, combining tax cuts and increased spending (it.investing.com).
  • Funding includes roughly €5 billion from banks and insurers and €700 million from energy groups (it.investing.com).
  • Additional measures: raising the IRPEF second‑bracket threshold to €55,000, abolishing road tax for most vehicles, housing incentives, and boosting the National Health Fund by €3.4 billion (ansa.it).

References

Frequently Asked Questions

How much is Italy's 2027 budget worth?
Italy's 2027 budget is worth €26 billion, or $28.9 billion.
Who announced the approval of Italy's 2027 budget?
Prime Minister Giorgia Meloni announced the approval of the 2027 budget.
What are the key measures in the 2027 budget?
The 2027 budget includes tax cuts and spending hikes.
How will the 2027 budget be funded?
Around €5 billion will be collected from banks and insurers, and about €700 million from energy groups.

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