The Minister for Finance, Prof. Edward Scicluna, has welcomed the European Commission’s 2016 Malta Country Report, published on 26 February 2016, while adding that the Government wants to redouble its efforts at reinforcing Malta’s economic growth in order to ensure that all Maltese reap the benefits of the country’s success.

 

 

Speaking after the Council meeting of EU Finance Ministers (ECOFIN) earlier today, 8 March, Minister Scicluna stated that “the report shows that the restructuring of our economy is bearing fruit, particularly with Malta’s improved external balance.”

 

PRESS RELEASE BY THE MINISTRY FOR FINANCE

 

The country reports, which were one of the items discussed at today’s Economic and Finance Affairs Council (ECOFIN), are issued by the European Commission each February and analyse the economic and social policies of Member States. This year’s Country Report for Malta comes on the heel of a long series of EU and international commendations for the policy-driven growth which the Maltese economy has consistently been recording.

The Commission’s report notes Malta’s robust economic performance over the recent years, stating that “the economy has demonstrated notable resilience in a challenging macroeconomic environment.” It further states that “growth has been job-rich and broad-based”.

 

 

Minister Scicluna stated that “the Government’s challenge is to keep the growth momentum for the medium term and to ensure that this growth be shared by all elements of our society”.

EU Finance Ministers also discussed efforts to prevent corporate tax avoidance. Minister Scicluna supported the German compromise to underline Malta’s support to an anti-tax avoidance initiative which provides for exchange of information amongst national tax authorities, whilst giving adequate time to its implementation in order to ensure that the EU’s global competitiveness is not undermined.

On 7 March, Minister Scicluna also attended a meeting of the Eurogroup which discussed the economic adjustment plans of Greece and Cyprus, amongst other issues.

For the meeting, Minister Scicluna was accompanied by Ambassador Marlene Bonnici, Permanent Representative of Malta to the EU and the Permanent Secretary for Finance, Mr. Alfred Camilleri.

   

– 8th March, 2016