Ministry of Economy and Finance (MOEF)

Money Moves

Finalizing the 2027 budget bill, with cabinet approval expected around 28 October and a higher IRAP levy on energy firms under consideration

On 28 October the cabinet approved a €26bn budget for 2027, which Rome says is about €2.5bn more than planned because Brussels allowed extra energy spending. Italy will pay for part of it with higher taxes on banks, insurers, energy firms and gambling operators. Banks' corporate tax (IRES) rises to 30.5%, and the deficit is projected at 3.4% of GDP in 2027.

Updated Oct 29

Money Moves

As of September 2026: Executing supplementary budget and energy relief measures

South Korea's stock market was the world's best performer in early 2026, with the KOSPI peaking at 6,347 in late February. When Iran closed the Strait of Hormuz, the passage for roughly two-thirds of the country's crude oil imports, the index crashed 19% in two days, the worst two-day drop in its history.

Updated Sep 12