Budget 2021

Prime Minister says Budget 2021 lays foundation for country to look forward with confidence

19th October 2020

This was Robert Abela’s first Budget as Prime Minister and Leader of the Labour Party

Prime Minister Robert Abela, in a press conference following the Budget 2021 announcement on Monday night, said the Budget lays the foundation for Malta to look to the future with confidence.

He said that the need to protect Malta’s productive capacity amid disruptions caused by COVID-19 was central to next year’s Budget.

The extended wage supplement, to at least March 2021, is aimed at supporting Malta though the pandemic, and is the best way to safeguard workers and businesses, Dr Abela added. 

He added that while protecting the country’s economy, the Budget also strives to strengthen Malta. 

“It was a budget where we not only sought to meet the present challenge, but we looked to the future, to a future vision of Malta.”

The Prime Minister highlighted the €450 million industrial estates revamp project, saying it will prepare Malta for rapid changes in the economy, making it future-ready.

He added that measures have been balanced with safeguarding the environment, including a commitment to carbon neutrality by 2050, as well as a ban on the importation of single-use plastic.

The Prime Minister thanked the Maltese for their courage, saying 2020 will be marked for when the people showed their strength.

He called the 2021 Budget “the best” unveiled by Labour Governments, giving people peace of mind and confidence.

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26th February 2021

Malta's Central Government debt increased by nearly €1.5 billion in the year prior to January

24th February 2021

As at end-December, there were 2,373 loans subject to a moratorium on repayments

Prime Minister says Budget 2021 lays foundation for country to look forward with confidence