DEF 2021 Update: Superbonus Extension and GDP Growth

The government has approved the extension of the Superbonus within the DEF (Document of Economics and Finance). A fundamental document as it indicates what expenses the State will bear in the near future and which clarifies what they are the government’s intentions regarding interventions on public spending.

What is the Superbonus?

But let’s take a step back… when we talk about Superbonus we are talking about a measure aimed at facilitating the renovation of private buildings as long as they respect some specific rules aimed at encouraging energy efficiency and seismic risk reduction.

The interventions that are included in the Superbonus are various and range from the installation of photovoltaic panels, to insulation interventions, to those on the heating of common areas to those relating to private accommodation, up to and including systems for charging electric vehicles.

Read our in-depth article on the Superbonus

The extension

The rule was supposed to only include expenses incurred for the works by 2022, but now the government has decided to extend this deadline to a year later.

You can read it directly in the Update Note to the Economic and Financial Document (Nadef) which underlines “The extension of various measures of economic and social importance will be envisaged, including the Guarantee Fund for SMEs and incentives for the energy efficiency of buildings and innovative investments”.

This is undoubtedly good news both for private individuals, who will be able to benefit from an extremely advantageous relief; both for companies in the construction sector which will clearly benefit from it. The construction sector is already maintaining a robust growth path and the indicators show positive signs for the coming months also due to the significant fiscal incentives.

The comment from the President of ANAEPA is also positive, Stefano Crestini: «The Superbonus is a tool with great potential, which can certainly trigger a virtuous circle of growth in the sector and redevelopment of our building stock. The forecasts are encouraging and therefore the extension of the measure to 2023 is the basis for creating a climate of certainty and trust, essential for planning interventions that make homes safe and more efficient».

Italian economy growing

The DEF also shows a notable expansion of the Italian economy. Forecasts claim that in the coming years our country will be driven by favorable monetary conditions, both due to the newfound optimism of businesses and consumers and by the National Recovery and Resilience Plan (PNRR), which represents an unprecedented opportunity to relaunch our country in the name of environmental and social sustainability.

Also according to the document, in the third quarter of the year the Italian economy should have grown by 2.2%.

The Minister of Economy Daniele Franco at the hearing of the budget committees he declared: «The picture outlined is more probable and realistic, but a resumption of the pandemic would put these numbers at risk», he added. In any case, the minister underlined «This year we are growing a lot» and «the growth rate in 2023-24 will hopefully be very high. However, higher growth rates compared to previous decades, I believe, are however an objective for 2022-23-24 and subsequent years».