UPDATE 2-Italy cannot hold election next April, economy minister says

Italy's Economy Minister Giancarlo Giorgetti has ruled out a national election in April due to insufficient time to pass regional devolution legislation.

Italy cannot hold a national election in April because it would not give the government enough time to approve ‌its plans to devolve more powers to regional authorities, Economy Minister Giancarlo Giorgetti said on Tuesday. Giorgetti commented on reports by Italian media and Bloomberg that Prime Minister Giorgia Meloni may seek elections in April next year, a few months earlier than the ‌autumn 2027 deadline. "Let me give you a piece of news ... in order to complete the parliamentary passage (of the ‌regional devolution legislation) we cannot vote in April," Giorgetti said at the conference organised by newspaper La Verita'. Supporters of an early election point out that voting in September 2027, at the end of Meloni's term of office, would create a risk of not having a government with ⁠full powers ​during the budget session in ⁠October, a particularly sensitive period when new public finance targets are set. In separate remarks, Giorgetti said Italy still had a chance of exiting a ⁠European Union infringement procedure this year for its excessive budget deficit. The 2025 deficit was reported by national statistics bureau ISTAT in March ​at 3.1% of gross domestic product, marginally above the EU's 3% ceiling and leaving Rome unable to ⁠leave the procedure which limits its room for fiscal manoeuvre. "The match isn't over yet," Giorgetti said, noting that the 2025 deficit could still be revised ⁠down ​at a scheduled review in September. He said he doubted that this would actually happen but added that he had not yet given up hope. Giorgetti also said the government would not extend a cut in excise duty on ⁠fuels beyond the current deadline of July 3, given the downward trend in diesel and petrol prices observed in recent ⁠days. "It is no longer ⁠necessary in the current situation," Giorgetti said. The measure has been extended several times, and progressively scaled back, since it was introduced in March in response to the energy shock triggered ‌by the US-Israeli ‌strikes on Iran on February 28.