Emilia-Romagna, 2026-2028 budget adjustment of 326 million …

The Emilia-Romagna Region has approved the adjustment and the first general variation to the 2026-2028 forecast budget with regional law July 27, 2026, n. 8, published in the Official Gazette of the Italian Republic, 3rd Special Series – Regions, n. 42 of October 31, 2026 (reference 26R00246). The measure, signed by the President of the Region De Pascale, increases the accrual forecast by 326,035,885.98 euros and the cash forecast for the 2026 financial year by 352,742,511.06 euros.

The process and the 2025 financial statement framework

The text was approved by the Regional Legislative Assembly and published in the Official Bulletin of the Emilia-Romagna Region – Part One n. 200 of July 27, 2026; it enters into force on the day following its publication in the BURERT.

The adjustment is linked to the Region’s 2025 general financial statement, approved by regional law July 27, 2026 (reference 26R00245), which certifies an administration result of 1,521,513,858.26 euros and a final cash fund of 1,592,091,060.94 euros. Article 1 of Law n. 8 builds upon these results, redetermining the presumed active and passive residuals for 2026 in accordance with the final financial statement data, with the differences detailed in Annex 1.

Variations across the three financial years

Article 4 distributes the variations in revenue and expenditure over the three years of the triennial budget:

2026: +326,035,885.98 euros (accrual) and +352,742,511.06 euros (cash).
2027: +313,648,531.95 euros (accrual).
2028: +306,751,164.17 euros (accrual).

Article 3 sets the cash fund at the beginning of the 2026 financial year at 1,592,091,060.94 euros, consistent with the financial statement. Article 2 quantifies the deficit determined by authorized but uncontracted debt at 171,835,800.17 euros.

Less debt and refinancing of spending laws

Regarding indebtedness, Article 5 reduces by 155,094,797.50 euros the authorization to contract mortgages and bond loans provided by regional law December 29, 2025, n. 13 (2026-2028 forecast budget). Article 6 redetermines the recourse to debt for the triennial investment program:

2026: 114,950,117.14 euros, a decrease of 14,419,529.70 euros.
2027: 156,245,267.98 euros, a decrease of 1,600,000.00 euros.
2028: 223,873,641.54 euros, an increase of 2,943,641.54 euros.

Article 8 modifies, via the attached Table A, the refinancing authorizations of the regional spending laws provided by regional law December 29, 2025, n. 12 (2026 stability law). Article 9, instead, reduces the spending authorization of Article 6 of regional law December 28, 2023, n. 18 (2024 stability law) by 5,000,000.00 euros for the 2026 financial year only.

Technical annexes

Article 7 approves fifteen annexes that make up the accounting maneuver, including:

Table 1 and Table 2 with the variations to revenues and expenditures by missions, programs, and titles;
the general summaries by titles and by missions;
the updated demonstrative prospectus of the budget balance;
the prospectus of the doubtful accounts fund and that of the borrowing limits;
the supplementary note to the adjustment and the variations to the lists of investments financed by debt;
the updated list of mandatory expenditures and that of new legislative measures fundable with special funds.

The detail by expenditure sectors is entrusted to these tables: the text published in the Gazette reports the articles of the law with only the operative part, while the accounting annexes remain in the documents published in the regional Official Bulletin.

Why it matters

For citizens and local entities, Law No. 8 is the first corrective to the expenditure chapters for the 2026-2028 three-year period: it shifts resources between missions and programs, reduces the recourse to debt by approximately 14.4 million in 2026, and refinances sector-specific regional laws, with a direct effect on services and investments financed by the Region.

Source: Official Gazette of the Italian Republic, 3rd Special Series – Regions, no. 42 of October 31, 2026 – Regional Law July 27, 2026, no. 8, “Adjustment and first general variation to the forecast budget of the Emilia-Romagna Region 2026-2028” (26R00246); published in the Official Bulletin of the Emilia-Romagna Region – Part One no. 200 of July 27, 2026.