Budget 2021

MCESD meet with Finance Minister, Minister within OPM on Budget 2021 priorities

10th September 2020

While the Government is aiming to continue supporting existing sectors, it is also seeking to develop new niches

Finance Minister Edward Scicluna and Minister within the Office of the Prime Minister, Carmelo Abela, yesterday afternoon met with Malta’s social partners to present the Government's pre-budget document and discuss priority areas for the upcoming national 2021 budget presentation.

While a date has not yet been set for the October presentation, the Government held discussions with the Malta Council for Economic and Social Development (MCESD), made up of Malta’s employer associations, business lobby groups such as The Malta Chamber and the Malta Hotels and Restaurants Association, workers unions and civil society.

Yesterday’s meeting saw the Finance Minister present and discuss economic forecasts and fiscal projections which underpin the Government’s priority focus for the upcoming budget.

Minister Scicluna said that “in the upcoming budget, the Government will be using its resources in the best possible way in order to spend responsibly in the areas that need it most. We as a Government will also continue to help existing sectors, while focusing on new niches, so that Malta will return to the economic rhythm it had generated over the past seven years”.

The Minister touted Malta’s strong public finances, saying that it was thanks to the Government surplus and reduction of public debt that the state was able to provide immediate assistance when COVID-19 hit Malta’s shores.

Minister Abela, highlighted the theme of the upcoming budget, ‘Towards a sustainable economy.’

With sustainable development being a key policy-area under the Minister’s portfolio, he said that measures already taken by Government, as well as measures to be included in the upcoming budget, have merged the third pillar of sustainability from an environmental, economic and social aspect.

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MCESD meet with Finance Minister, Minister within OPM on Budget 2021 priorities