ARTICLE · 23 OCTOBER 2015

Malta Budget 2016

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The 2016 Budget which was announced last week was a historic one as it was the first to be presented in the new House of Representatives by Malta's Finance Minister, Professor Edward Scicluna.

MaltaTax

Jean-Pie Gauci-Maistre

Christos Efthymiopoulos

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The 2016 Budget which was announced last week was a historic one as it was the first to be presented in the new House of Representatives by Malta's Finance Minister, Professor Edward Scicluna. Its theme is "Malta – a strong economy". The government chose this theme because every economic indicator is pointing towards this direction.

Economy and Employment

Malta's economy is set on a sound footing. The national deficit is aimed to decrease from 3.7% to 1.6% by the end of 2015 whereas it is projected to decrease even further to 1.1% of GDP in 2016.

In 2015 Malta's economic growth is expected to average 4.2% in real terms (four times the growth of other EU Members) whilst the growth for 2016 is projected to be 3.6% in real terms, with the majority of growth coming from the foreign sector.

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