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ARTICLE · 09 NOVEMBER 2020

Malta Budget 2021 Highlights

KPMG Malta
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A video summary of the main highlights of the Malta Budget 2021 in 180 seconds.

MaltaFinance and Banking
Anthony Pace
Anthony Pace
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"Welcome to the KPMG in Malta Budget Highlights for 2021. As expected, this budget extended a number of Covid19 measures and various other economic measures as well as announcing various new investments to sustain the economy and lay the foundations for recovery from this unprecedented time. Read on for more."

Economic Highlights

Following four consecutive years of surplus, a deficit amounting to 9.4% of the GDP is expected for 2020 as a result of the impact of Covid 19 on Government revenue's and increased expenditure to fund the various support measures. Measures which have helped Malta maintain the unemployment rate at around 4.1% (August). During the first half of the year, GDP decreased by 7.7%, compared to that of the Eurozone rate of 9% and public debt is expected to increase to 55% of GDP. Real GDP is expected to fall by 7.4% in 2020 and recover by 5% in 2021. Inflation during September stood at 0.18% and is expected to be of 1.3% for 2021.

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