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Bes in the Economic and Financial Document

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The Law no. 163/2016, which reformed the Italian Budget law, provided that the Equitable and sustainable well-being indicators should contribute to define those economic policies which largely affect some fundamental dimensions for the quality of life.

A high level committee, including the highest representatives of the Ministry of Economy and Finance, the Italian National Institute of Statistics (Istat), the Bank of Italy and two renowned experts, was set up to select a short list of indicators from the BES set, to be considered annually in the Economic and Financial Document (DEF) and in the Report to the Parliament.

As early as 2017, a first set of 4 indicators has been included in the DEF and subsequently referred to in the first Report on BES indicators presented to the Parliament by the Minister of Economy and Finance in February 2018.

The complete list of Bes indicators as defined by the Committee and approved by the competent parliamentary committees was considered in the 2018 Economic and Financial Document. The list includes 12 indicators, 8 of which were analyzed in their recent evolution. With regard to the remaining 4 indicators, estimates for the following three years were developed.

The second report on equitable and sustainable well-being indicators, reported to the Italian Parliament on 27th February 2019, presented a predictive scenario using 4 indicators, together with a review of the measures that should have an impact on each of the 12 indicators included in the complete list and a focus study on absolute poverty.

The MEF most recent publication is the DEF 2019 where it is possible to find the trend and programmatic forecasts relating to the 4 BES indicators and the analysis of most recent trend for the other 8 Bes indicators. Istat provided the 2018 update of the complete set of sustainable welfare and well-being indicators included in the DEF, mainly based on final data but also, when it was necessary to ensure timeliness, on provisional data and ad hoc models for advance estimates (see the updated table of Istat indicators).

 

The selections of indicators

 

Government’s documents:

Last edit: 17 April 2019