ARTICLE · 06 NOVEMBER 2013

Malta Budget 2014

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The first budget to be completely drafted by Malta’s new government was presented to parliament by Malta’s Finance Minister, Prof Edward Scicluna.

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Jean-Pie Gauci-Maistre

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The first budget to be completely drafted by Malta's new government was presented to parliament by Malta's Finance Minister,Prof Edward Scicluna. The Budget for 2014 aims at addressing the sustainability of the country's public finances, with measures being proposed to support employment creation as well as tax deductions for entrepreneurs who offer work placements. No new taxes were introduced but the rate of excise on cigarettes, tobacco, fuel, beer and alcohol and on oil bunkering has been raised. Plans were also laid out to nurture new industries in Malta and further strengthen the core contributors to the Maltese economy. During the second quarter of 2013, the Maltese economy expanded by 3.6 per cent, having increased by 1.6 per cent in the ﬁrst quarter. Growth was mainly spread across all economic sectors except construction.

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