Well-being indicators in the new budget law

Italy is the first among developed economies to take into account fair and sustainable wellbeing in its economic policy making. The economic and financial planning document (DEF), recently released by the government, sets out 12 wellbeing indicators covering various dimensions ranging from health and education to justice efficiency and environment. The reform prescribes that the performance of the last three years of the wellbeing indicators should be reported in the document alongside the usual economic variables (GDP, employment, inflation, public debt and deficit). The aim is to best reflect the impact of the budget law on the different dimensions of quality of life.