Rome, November 17, 2017 - 22.25
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Forecast and Planning Report

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Forecast and Planning Report

The Minister of Economics and Finance presents The Forecast and Planning Report before 30 September of each year concurrent with the submission of the Draft Budget Law. The report, which is not voted on by Parliament, is partly economic and partly technical/financial and illustrates what could be defined as the philosophy behind the budget manoeuvre and is thus a demonstrative, companion document to the budget itself. One of its sections provides a general, summarised framework of the State budget and includes an analysis of variations with respect to the previous year's forecasts, as well as information on discretionary expenditures.

In addition, the forecast-programmatic report describes the general economic framework, the economic-policy guidelines and the subsequent program objectives are described, the consistency and compatibility between the economic framework, the amount and distribution of resources, the aforementioned objectives and the financial commitments provided in the State's long-term budget as well as those of the entire public sector . The State sector's requirements are delineated with reference to the budget's cash estimates and to assessment of treasury flows. The scenario according to which the financial manoeuvre proposed is contextualised is precisely reconstructed. The report is considerably more analytic than the EFPD and demonstrates and justifies the aggregate data, which are merely listed in the EFPD. In addition, the analysis of the decisions taken is described and the economic effects on the budget of decisions taken during debate on the Draft Budget Law are analysed. Forecast variations with respect to the previous year are shown, as are future projections. The reasons for the forecast variations are analysed with reference to the previous period and to the next three-year period. Finally, data concerning regional and local finance is provided, along with the relative aggregate statistics.

The Forecast and Planning Report is accompanied by the sector programmatic reports and reports on the multiyear expenditure laws, the latter reports providing particular information on the state of implementation. For each multiyear expenditure law about to expire, the Minister concerned must determine if the reasons for which the law was originally adopted still subsist. The same process must be undergone for all multiyear expenditure laws once they have been in force for five years.

The Minister of Economics and Financeannexes to these reports a summary framework of all the multiyear expenditure laws, indicating which have been renewed and the related expiry dates. The reference legislation, the total amount of the sums allocated and of those committed and actually distributed, the year in which the decision for the work in question was taken and the year in which the work was begun and completed must be included. This is a factual document of great interest since, for example, it renders infrastructure investments transparent, thus making it possible to compare the estimated and actual expenditures and to verify any variances anc the time required to complete the work. Excess cost variations and unjustified delays are thus made clearly evident.

Finally, the Minister of the Economy and of Finance completes The Forecast and Planning Report by presenting a summary report on the actions carried out in underused areas and on the results achieved. The report is presented to Parliament before 31 January of the year subsequent to the reference year and focuses particularly on the consequences on employment, social cohesion, environmental sustainability and the territorial distribution of the interventions in question.