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ARTICLE · 23 JANUARY 1997

A Glance At The 1997 Budget

Hugh Peralta & Co
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MaltaFinance and Banking
A. Introduction

The 1997 Budget is the first budget presented by the Labour party following its electoral victory last October. The Budget Speech, in reviewing the performance of the various sectors of the Maltese economy, contains 'inter alia' references to:

(i) The financial services sector - the Minister emphasised the Government's commitment to follow in the previous government's footsteps in so far as the promotion of this important sector and, hence, the encouragement of reputable business to Malta is concerned. Note was taken of the fact that in 1996: (i) there was an 11.1% increase in the registration of International Trading Companies and International Holding Companies, and (ii) several banks of international repute such as Midland Bank, Investkredit International Bank and Austrian Raifeissen Bank set up local branches or subsidiaries.

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