Last Updated 28 | 11 | 2012 at 22:17


PM: A Budget to keep Malta's financial situation stable

Article By: news

Prime Minister Lawrence Gonzi said that the present administration’s point of departure was a stable financial situation, and that the 2013 Budget was designed to keep it that way.

Speaking after Finance Minister Tonio Fenech’s Budget speech in Parliament this evening, Dr Gonzi said that the 2013 Budget was based on two principles – incentivizing the economy and readdressing social balance.

He said that in the past few years, Malta had made its way through some very difficult situations, including an international crisis that had shaken countries near and far.

“Yet Malta managed to make its way out, with its finances stable –and the situation is only going to get better,” Dr Gonzi said.

Dr Gonzi said that the assessment by the European Commission as well as the results acquired in the past few days with regards to Malta’s economic situation proved that Malta was among the best in Europe and confirmed that the financial situation was stable.

Finance Minister Tonio Fenech said that the 2013 Budget was based on past Budgets, and took the necessary decisions to make sure Malta remained on solid ground.

“Our economy is not only predicted to grow but jobs will increase and unemployment will decrease, which is the opposite of what many of our neighbours are saying.”

“One only has to look at the recently-announced Budget for Portugal to understand what we are saying.”

Dr Fenech said he hoped that the people would judge this Budget as the one that had made sensible and thoughtful choices, with the interests of the people at its core.

Please sign in or register to post comments.