Pre-Budget document; Finance Minister confirms Malta will continue to register a deficit

Minister for Finance and Financial Services Edward Scicluna launches the Pre-Budget Document 2021

Tista' taqra bil- Malti.

During the launch of the pre-budget 2021 document, Finance Minister Edward Scicluna said that the government is expecting to continue registering a deficit next year as the country together with the rest of the world is facing uncertainties due to the coronavirus pandemic.

The pre-budget document, titled ‘Towards a Sustainable Economy’ outlines the sectors that the government is planning to prioritize during next year.

The main economic sectors, new technology sectors, Gozo, education, employment, national security, environment and the infrastructure, were amongst the areas mentioned by Minister Scicluna and which are included in the document. He also mentioned that next year the government’s economic vision for the next ten years will be drafted.

Finance Minister, Edward Scicluna said that this document has been launched to continue to strengthen the consultation process with social partners and the general public that take place every year prior to the presentation of the budget.

The document says that the government will be upgrading industrial infrastructure and will create new office spaces for new business models. This would result in an investment of €400 million over a span of seven years.

Minister Scicluna said that the government remains committed to plan a budget that will reach out to the needs of families and businesses which are struggling and he is confident that the budget for 2021 will reach the government’s vision.

The pre-budget document can be also accessed electronically through the Ministry for Finance website.

Finance Minister meets social partners

Finance Minister Edward Scicluna and Minister Carmelo Abela have met with the social partners on Wednesday.

In a statement the government said that it discussed the economic and financial forecast for Malta as well as the government’s priority for the upcoming budget with the MCESD.

Finance Minister Edward Scicluna said that the government would be using its resources in the most efficient manner to assist existing sectors and focus on new niches.