ARTICLE · 15 MARCH 2012

Malta Budget 2012

EMD Advocates

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Revenue from direct and indirect taxation is expected to reach €2.5 billion, while €419.20 million consists of revenue from other sources.

MaltaTax

EMD Advocates

ECONOMIC HIGHLIGHTS

a. The Maltese economy

Revenue from direct and indirect taxation is expected to reach €2.5 billion, while €419.20 million consists of revenue from other sources. Recurrent expenditure is expected to increase by €92.6 million over that forecast for 2011.

b. Employment

Gainfully employed persons increased by more than 2.5%. Unemployment stands at 6.6%, which is 3.1% less than the EU average.

c. Rate of Inflation and economic growth

In the twelve months ending September 2011, the rate of inflation reached 2.7%. In 2012, economic growth is expected to be approximately 2.3% with inflation expected to reach 2.1%.

d. Cost of Living Allowance

The cost of living increase for 2012 shall be that of € 4.66 per week.

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