Minister for Finance Edward Scicluna welcomes the European Commission’s autumn forecast, published yesterday, which expects the Maltese economy to continue growing robustly with record low unemployment and moderate wage growth, with the current account and the budget balances set to remain in surplus.

PRESS RELEASE BY THE MINISTRY FOR FINANCE

Malta is expected to also perform affirmatively in external trade where strong export growth, particularly in services, is expected to continue supporting the current account surplus recorded in recent years.

During the same press conference, Minister Edward Scicluna referred to the report published by the PANA committee on Wednesday. The Minister remarked that the committee was set up with the aim of evaluating and reporting the shortcomings revealed by the 11.5 million leaked documents.

The committee confirmed that the Maltese tax system is in line with current international and EU standards. It further adds that Malta has transposed EU rules and respects OECD standards in terms of transparency, its fight against tax fraud, and money laundering.

“The way forward for Malta is for all political sides to work together in strengthening Malta’s institutions”, said Minister for Finance Edward Scicluna.