Il-Ministru għall-Finanzi, il-Prof. Edward Scicluna, faħħar il-flessibbiltà li l-Kummissjoni Ewropea tħalli lill-Istati Membri tal-UE biex ifasslu u jwettqu l-politiki fiskali tagħhom, u qal illi li kieku r-rakkomandazzjonijiet speċifiċi li l-Kummissjoni tagħmel lil kull pajjiż kellhom ikunu aktar vinkolanti, dan jista’ jifga l-potenzjal tal-Istati Membri li jkabbru l-ekonomija tagħhom.

STQARRIJA GĦALL-ISTAMPA MILL-MINISTERU GĦALL-FINANZI

Meta kien qed jindirizza laqgħa informali tal-Grupp tal-Ewro fil-kapitali Latvjana, Riga, il-Ħamis filgħodu, il-Minisru Scicluna tkellem dwar kif Malta rnexxielha tisfrutta dan l-ispazju għall-immanuvrar biex tħejji l-pjan tagħha għan-nefqa pubblika u tieħu għadd ta’ miżuri pragmatiċi importanti li rnexxielhom iservu ta’ katalist għal tkabbir ekonomiku inkoraġġanti.

“Ilħaqna l-miri fiskali tagħna billi għamilna użu tajjeb mil-libertà tal-azzjoni li ngħatatilna mill-Kummissjoni,” qal il-Ministru Scicluna. “Irnexxielna nikkonsolidaw il-finanzi tagħna mingħajr ma noqtlu l-ekonomija. L-ekonomija ta’ Malta qed tikber, u rnexxielna nagħmlu dan għax qbilna mar-rakkomandazzjonijiet speċifiċi għall-pajjiż li għamlitilna l-Kummissjoni, u emminna fihom. Huwa inkoraġġanti li wieħed jara r-riżultati tal-istrateġija tagħna ta’ konsolidament fiskali li tiffavorixxi t-tkabbir ekonomiku.”

Waqt il-laqgħa, il-Kummissjoni Ewropea, il-Bank Ċentrali Ewropew u l-Fond Monetarju Internazzjonali infurmaw lill-Ministri bil-progress fit-taħditiet li għaddejjin bħalissa mal-awtoritajiet Griegi dwar il-programm ta’ salvataġġ finanzjarju ta’ dak il-pajjiż. Dwar il-Greċja, il-Ministru Scicluna qal li s-sitwazzzjoni diġà hija drammatika biżżejjed, u wissa kontra li wieħed jitlaq għal għonq it-triq tal-awtodistruzzjoni. Saħaq fuq l-importanza li tinstab soluzzjoni minnufih, u li l-posponiment tat-teħid tad-deċiżjonijiet għal Mejju jew Ġunju mhux se jaħdem għax fl-aħħar mill-aħħar jispiċċa ma jsir xejn. “Jinħtieġ li nsibu soluzzjonijiet f’din il-laqgħa stess,” qal. F’kummenti li ta lill-midja internazzjonali, huwa ddeskriva l-laqgħa bħala “kollass totali tal-komunikazzjoni mal-Greċja”.

Waranofsinhar, il-Ministru Scicluna ngħaqad mal-kontrapartijiet tiegħu għal laqgħa informali dwar l-Affarijiet Ekonomiċi u Finanzjarji (ECOFIN). Is-sessjoni ta’ ħidma ffukat l-aktar fuq il-qagħda ekonomika fl-UE u kwistjonijiet ta’ stabbiltà finanzjarja, ix-xkiel ewlieni għall-investiment, u r-riformi strutturali meħtieġa biex tingħata spinta lill-potenzjal tat-tkabbir ekonomiku fl-Ewropa. Il-laqgħa se tissokta għada s-Sibt bi skambju ta’ opinjonjiet dwar l-Unjoni tas-Swieq Kapitali u l-forma tagħha, inkluż l-irwol tal-banek u l-impatt tagħha fuq is-swieq ta’ daqsijiet u kumplessitajiet differenti.

F’Riga, il-Ministru Scicluna huwa akkumpanjat mis-Segretarju Permanenti fil-Ministeru tal-Finanzi, Alfred Camilleri.

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Malta has achieved a growth-friendly fiscal consolidation through flexibility and pragmaticism

Minister for Finance, Prof. Edward Scicluna, has defended the flexibility granted by the European Commission to EU Member States in determining and executing their fiscal policies, arguing that a more binding country-specific recommendations made by the Commission could stifle Member States’ economic growth potential.

 

PRESS RELEASE BY THE MINISTRY FOR FINANCE

Adressing a Eurogroup informal meeting in the Latvian capital, Riga, on Thursday morning, Minister Scicluna spoke about how Malta has exploited this elbow room to come up with its own public spending plan and take a number of important pragmatic measures that have succeeded in catalysing an encouraging economic growth.

“We have achieved our fiscal objectives by making good use of the latitude that was granted to us by the Commission,” said Minister Scicluna. “We have managed to consolidate our finances without killing off the economy. Malta’s economy is growing, and we managed to achieve this because we agreed to, and believed in, the country-specific recomendations made to us by the Commission. It is encouraging to see the results of our growth-friendly fiscal consolidation strategy.”

During the meeting, the European Commission, the European Central Bank and the International Monetary Fund informed the Ministers on the progress in the current discussions with the Greek authorities with regard to the country’s bailout programme. On Greece, Minister Scicluna said that the situation is dramatic enough, and warned against following a self-destructive path. He stressed that a solution must be found without delay, and that postponing taking decisions till May or June will not work because at the end of the day nothing will happen. “We need to find solutions in this very meeting,” he said. In comment given to international media, he described the meeting as a “complete breakdown in communication with Greece”.

In the afternoon, Minister Scicluna joined his EU counterparts for an informal Economic and Financial Affairs (ECOFIN) meeting. The working session focused mainly on the economic situation in the EU and financial stability issues, the main barriers to investment, and the structural reforms needed to boost Europe’s growth potential. The meeting continues on Saturday morning with an exchange of views on the Capital Markets Union and its form, including the role of banks and its impact on markets of various size and complexity.

In Riga, Minister Scicluna is accompanied by the Permanent Secretary in the Ministry for Finance, Alfred Camilleri.

Friday 24th April 2015