FINANCE MINISTER EDWARD SCICLUNA DISCUSSES THE PRE-BUDGET 2018 DOCUMENT WITH MCESD

Reference Number: PR171814, Press Release Issue Date: Jul 31, 2017
 

PRESS RELEASE BY THE MINISTRY FOR FINANCE AND THE MINISTRY FOR EUROPEAN AFFAIRS AND EQUALITY

Minister for Finance Edward Scicluna discussed the vision for the forthcoming Budget 2018 with the Malta Council for Economic and Social Development (MCESD), prior to the official launching of the Pre-Budget document.
 
Minister Scicluna gave a detailed economic and fiscal review achieved by the government to date and presented the Ministry for Finance’s projections for the coming years, whereby economic growth is expected to remain above the EU average, inflation is expected to be moderate, and employment growth to remain robust. The Finance Minister noted that there are no real concerns about wage inflation at present, given the supply of foreign labour which has eased the problem of labour shortages in certain sectors. Nevertheless, the Government will continue to enhance the quality of the labour force and tackle skills mismatches in the Maltese labour market. It will also seek to further reduce the inactivity rates particularly amongst women.
 

Now that Malta has a strong and vibrant economy, we need good infrastructure to complement it and to avoid escalating congestion costs, the Minister added. 
 
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