“Much Worse Than 2025”: Meloni Sounds Alarm on Italy’s Turbulent 2026

Italian Prime Minister Giorgia Meloni has issued a stark warning from the heart of Palazzo Chigi: brace yourselves, 2026 will be far tougher than 2025. Speaking candidly to her staff, Meloni acknowledged a bruising year marked by economic strain and geopolitical uncertainty—and suggested the worst may still lie ahead.

“We fight all year round. The year we’ve had has been tough for all of us. But don’t worry—the next one will be much worse,” Meloni said, urging her team to rest during the holidays before returning to what she described as an even more demanding phase of governance.

Her warning comes against a troubling economic backdrop. Italy’s public debt is projected to climb to 137.4% of GDP in 2026, among the highest levels in Europe. Growth prospects remain fragile, with GDP expected to expand by just 0.4% to 0.8% next year, driven largely by domestic demand and investments under the EU-backed National Recovery and Resilience Plan (NRRP).

The Meloni government is walking a fiscal tightrope. Its 2026 budget aims to rein in the deficit to 2.8% of GDP while navigating politically sensitive choices around taxes, social contributions, and labour reforms. At the same time, Italy continues to face external pressures, including debates over military support for Ukraine and the broader fallout from global instability.

Despite the grim outlook, Meloni struck a note of resolve—framing the coming year as a test of endurance rather than defeat. “This is an extraordinary nation that can still amaze the world,” she said, signalling that the government intends to push through adversity rather than retreat from it.

Adding a diplomatic dimension to the year ahead, Italian Deputy Prime Minister and Foreign Minister Antonio Tajani revealed that Prime Minister Narendra Modi has accepted an invitation to visit Italy in 2026. Tajani said discussions with Modi covered the India–Middle East–Europe Economic Corridor (IMEC), industrial cooperation, and geopolitical issues, including Ukraine.

As Italy heads into 2026, Meloni’s message is unmistakable: the road ahead will be harder, the margins thinner, and the stakes higher. The real question is whether Italy’s economy—and its politics—can withstand what she has already labelled a much worse year.