Italy's Economy Minister, Giancarlo Giorgetti, is spearheading a new budget maneuver aimed at addressing the country's fiscal challenges.

The plan includes a comprehensive spending review across ministries, with regions, municipalities, and provinces also expected to contribute.

Despite Giorgetti's calm demeanor, the revised GDP growth forecast of 0.6% for 2024, down from the anticipated 1%, complicates the fiscal landscape.

The government aims to generate additional revenue through a structured contribution from businesses that have benefited from favorable conditions, focusing on equity rather than immediate cash flow.

However, the projected deficit of 3.8% for 2024 is under threat, necessitating further cuts in public spending and fiscal incentives.

The government is also considering a solidarity contribution from sectors like banking, insurance, and e-commerce to bridge the financial gap.