ROMA (ITALPRESS) – The Parliamentary Budgetary Office (UPB), in the framework of the procedure provided for in the Memorandum of Understanding with the Ministry of Economy and Finance (MEF) in view of the preparation of the next Government Programme Document (DPFP), yesterday transmitted its reliefs relating to the provisional macroeconomic framework, sent by the MEF on 15 September. The UPB is known.
The next week will follow the decision of the UB regarding the validation of the macroeconomic framework, which reflects the trend of the economy in the absence of new public finance interventions, and then will be evaluated the macroeconomic framework programme, which anticipates the effects of the interventions that will then be defined by the next budgetary law. Based on the current Italian and European standards, the UB is called to an independent evaluation of the macroeconomic forecasts contained in the government’s programmatic documents. The procedure is aimed at limiting the risk that excessively optimistic forecasts on the trend of the economy may affect the credibility of public accounts.
The validation process, according to the procedures agreed with the MEF, is divided into four stages: transmission from the MEF to the UPB of the provisional macroeconomic framework; possible formulation of reliefs by the UPB; possible sending from the MEF to the UPB of the modified version of the macroeconomic framework; final validation of the UPB, which can be positive or negative. The validation letters of the UB are made known, with publication on the website, only after the government has sent the programme document to the Parliament.
– Photo Ipa Agency –
(ITALPRESS).
