In his weekly video blog, Minister for Finance Prof. Edward Scicluna refers to the confirmation by EUROSTAT a few days earlier that Malta has successfully closed 2013 with a deficit of 2.8%, well under the 3% threshold.

Prof. Scicluna notes that this means that Malta is no longer in difficult territory of having a deficit that exceeds 3%, as it was in 2012 when the country registered a deficit of 3.3%. He also notes that it was this fiscal slippage that resulted in Malta being placed under Excessive Deficit Procedure.

Prof. Scicluna remarks that this positive achievement of a deficit of 2.8% was a direct result of the new Government’s the determination and commitment to stick to its targets. He affirms that this same determination and commitment will mean that Malta will be able to stick to its deficit targets for 2015 as well.

– Monday, 5th May 2014