Planning Minister Bruno Moretti announced that the 2027 Budget should contain an annex with the costs of subsidized credit policies. These measures have increasing use by the government and are increasingly questioned by the financial market.
At an event by BTG bank, Moretti argued that these "parafiscal" measures, which use financial resources from the public budget, do not generate a strong boost on the demand side of the economy and do not contradict the monetary policy of the Central Bank.
The minister's thesis has not convinced most market analysts so far. The announcement that the government will make explicit its accounts of the impact of these measures is considered welcome, although it remains to be seen what will effectively be presented in the document.
Furthermore, it would be important for the government to begin regularly disclosing the impacts and data of its financial expenses, which are currently hidden within a large amount of unorganized budget data.
