Introduction section Section II - The document cycle and the fiscal reform of December 2009
Section II - The document cycle and the fiscal reform of December 2009
Law No. 196 of 31 December 2009(PDF, 186 KB) introduced major changes in the cycle of planning and public finance documents, by streamlining content and setting deadlines for submitting them.
More specifically, the Public Finance Decision was introduced, which is a planning tool based on a three-year period superseding the Economic and Financial Planning Document - DPEF. Moreover, the Planning and Forecasting Report - RPP was repealed and since 2011 the Unified Economic and Financial Report - RUEF has been replaced by the Report on the Economy and Public Finance - REF.
In addition, under Article 7, paragraph 2, subparagraph g) the law explicitly included the Update of the Stability Programme- PS among the financial planning documents and laid down that the Goverment shall submit the Update of the Stability Programme to the European authorities according to the deadlines agreed at European level. The Stability Programme is submitted by the Government to Parliament. Article 9 of the above Law also envisages that while drawing up the Update of the Stability Programme - fifteen days before the deadline for submittal agreed at European level- the Government shall submit to both Houses of Parliament and to the Permanent conference for the coordination of public finance a draft of the Stability Programme outlining the medium-term outlook for Italy’s economic policy within the European Union.
Remain in force General Report on Italy’s Economic Situation – RGE and National Reform Programme – PNR.