Finance Minister Prof. Edward Scicluna discusses the recent appraisal by the European Commission in which it found that Malta’s Budget 2014 is taking the country in the right direction to reduce its deficit and debt.

Prof. Scicluna explains the importance of a historic meeting held a few days ago were Eurozone Ministers met to share their respective budget experiences, and also to hear the Commission’s feedback on their respective situations.

Prof. Scicluna noted that despite how the Commission placed Malta among ‘high risk’ countries, it has confirmed that the measures laid out within the Budget 2014 will be adequate to reduce the deficit, and that no further action is required.

Prof. Scicluna also explains that despite disagreement between the Government and the Commission regarding deficit forecasts, Malta is on the right track to close 2013 with a deficit below 3%, and that this will be confirmed once the year ends.

– Sunday, 1st December 2013