Fiscal Measures Announced In The 2016 Malta Budget

Introduction

Professor Edward Scicluna, the Minister responsible for Finance, delivered the 2015 Budget Speech on the 12th October 2015.

Malta's economy has delivered yet another year of solid economic growth in 2015, significantly outperforming its Eurozone partners, registering GDP growth of 4.2%, coupled with a further reduction in budget deficit (estimated at 1.6% for 2015) and unemployment (down to 5.4% in 2015); government debt as a percentage of GDP is at 66.56%.

Accordingly, and as expected, the Minister of Finance's Budget Speech was generally positive and upbeat, one that focuses on achieving the Government's targets of fiscal consolidation, strong economic growth and better living standards for all.