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ARTICLE · 05 MARCH 2021

Malta Budget Measures For 2021

INTERSERV
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On Monday 19th October 2020, Malta's Finance Minister, Profs. Edward Scicluna presented the country's budget for year 2021.

MaltaGovernment, Public Sector
Steve Muscat Azzopardi
Steve Muscat Azzopardi

On Monday 19th October 2020, Malta's Finance Minister, Profs. Edward Scicluna presented the country's budget for year 2021. The global economic scene is of course entirely different to that seen a year ago, as since then the COVID-19 global pandemic brought the world to a standstill. The Budget provides a number of incentives for the year ahead that promise to drive forward Malta's economy to regenerate in the post COVID-19 reality.

As expected, the economic slowdown impaired the Maltese economy, with a reduction of 7.4% in GDP expected for this year. However, Malta is expected to bounce back next year, with a growth forecast of between 5% and 6.4% in nominal terms.

In line with our position as corporate and tax advisers, this article highlights only the measures that we believe are more likely to be of interest to our international audience of those currently or considering investing in or relocating personally to Malta.

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