Italy plans to maintain its GDP growth forecasts at 0.6% for 2025 and 0.8% for 2026, despite ongoing uncertainties related to U.S. import tariffs, and will confirm these estimates in its upcoming budget plan later in September.

Economy Minister Giancarlo Giorgetti expressed confidence in these GDP projections during a political event in Rome, emphasizing the government's optimistic outlook.

The initial GDP growth estimates were made in April, factoring in potential impacts from shifting trade conditions and trade war tensions, including U.S. tariffs.

The government will present updated GDP forecasts and multi-year budget targets to parliament by October 2, which will guide next year's budget planning.

Giorgetti indicated that Italy does not need additional fiscal tightening to keep its deficit below the EU's 3% threshold in 2026, supporting the country's efforts to exit the EU's excessive deficit procedure.

The Italian government aims to ease the tax burden on middle-income families, although specific financing plans have not yet been disclosed.

The ruling coalition's League party is requesting that national banks contribute over 1 billion euros to the 2026 budget, highlighting ongoing fiscal discussions.

Italy's economy contracted slightly by 0.1% in the second quarter due to negative trade flows, but industrial output increased by 0.4% in July, indicating some resilience.

Italy's GDP growth forecasts are for the country's economy, which is the third-largest in the euro zone.

The government believes it has already incorporated potential impacts from trade disruptions into its forecasts and expects to possibly cut Italy’s deficit below 3% earlier than planned, within 2025.

The confirmation of these estimates reflects the government's confidence in Italy's economic stability and growth prospects amidst global uncertainties.