All the local authorities will be affected by the changeover, except the special statute regions, for which the new system will come into force in 2021. On several occasions we have argued that it is desirable to shift public spending from current to investment expenditure.
Investment spending, in addition to boosting demand (as its multipliers are usually higher than those of current expenditure), helps to raise the productive potential of the economy as long as the projects are carefully selected and efficiently implemented. It can also help to adopt transparent cost-benefit analyses when selecting projects and procedures to ensure the efficient and relatively rapid execution of the work.