Ministry of Economy and Finance

Italy's Stability Programme

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The Stability Programme (called PS) is a planning document addressed to the European Union and prescribed by EU Council Regulation n. 1466/1997, thereafter amended in June 2005 by Regulations n. 1055/05 and n. 1056/05. The PS is required by the European Council and Commission for multilateral surveillance on excessive public deficits and for promoting coordination of Member States' economic policies.

Based on the planning documents already presented over the year (DPEF and RPP), the PS describes the macroeconomic framework and public finance objectives set for the following years, the budget strategy selected for their achievement, as well as the debt reduction consistent with the fiscal consolidation process.

The Programme includes sensitivity analysis of public finances in to changes in the macroeconomic framework, as well as sustainability analysis of public finances in the long term.

Submitted to the EU Commission by 1 December, the PS is then discussed and approved by the Ecofin by the following February.

The PS was presented for the first time in 1998 and it is annually updated. 

Over the past few years the Programme has been drawn up in compliance with the Code of Conduct set out by the Economic and Financial Committee (EFC), prescribing both contents and formats.

Italy's Stability Programme Update 2009

• Italy's Stability Programme 2009
  ( PDF, 937 Kb )
• Nota di Aggiornamento 2010-2012 (Italian version)
  ( PDF, 173 Kb )

• Italy's Stability Programme - Previous Issues
  ( Link to internal page )