Rapporto curato da IRES Piemonte, IRPET, SRM, PoliS-Lombardia, Ipres Puglia, Liguria Ricerche, Agenzia Umbria Ricerche
Report prepared by regional socio-economic research institutes: IRES Piemonte, IRPET, SRM, PoliS-Lombardia, Ipres Puglia, Liguria Ricerche, and Agenzia Umbria Ricerche, and presented on Thursday, December 18, 2025, at the Senate of the Republic in Rome.
The expansionary economic policies adopted at European level to mitigate the effects of the most recent crises (pandemic, war, and energy) have inevitably had an impact on local public finances in recent years, particularly through the extraordinary public investment plan, which has led to a significant increase in capital expenditure.
Nevertheless, territorial imbalances persist, even though the gap between the North and South is narrowing, while inequalities within the two macro-areas are increasing.
Nevertheless, regional imbalances persist, even though the gap between the North and South is narrowing, while inequalities within the two macro-areas are increasing.
Today, however, we are on the eve of a new phase, in which a return to the consolidation of public accounts will be necessary, as envisaged by the 2025-2029 Medium-Term Structural Budget Plan, formulated by Italy within the framework of the new European economic governance.
In this context, the Report on Territorial Finance, now in its 21st edition, offers its usual analysis of public finance structures.
The first part of the report, introduced by Emma Galli, examines the most recent economic trends in regional and municipal finances. The second part, introduced by Giovanna Messina and Pietro Tommasino, focuses on some of the most topical policy issues.
The analytical framework highlights the need to accelerate the process of fully activating equalization mechanisms—in terms of infrastructure, services, and administrative performance—in order to promote the country’s growth and avert the risk of perpetuating a vicious circle in which the most vulnerable areas are further penalized by adverse demographic trends.
⇒ Download the Report from Editore Rubbettino website
⇒ Go to the presentation event of the Report
