In 2023, Italy's tax expenditure on fossil fuels for consumers was consistent with the forecasted values for the following years, standing at 0.41% of GDP. From 2024 to 2028, this expenditure remains unchanged at 0.41% of GDP. Over the last two years, there was no year-on-year variation, resulting in a Compound Annual Growth Rate (CAGR) of 0% over the five-year forecast period.
Future trends to watch for include:
- Policy shifts towards renewable energy that may influence fossil fuel tax expenditure.
- Market dynamics such as fluctuating fossil fuel prices and demand that could impact government tax strategies.
- Global climate agreements that may pressure Italy to alter tax policies related to fossil fuels.
