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Article:

Malta Budget 2020 - Highlights & Implementation Bill

11 October 2019

Josef Mercieca , Tax Partner |

 

For the sixth consecutive year, Malta accomplished an extraordinary economic growth rate which kept the island’s position amongst the best economic performing countries in the European Union.

Although not growing at the same rates as in the last few years, Malta’s GDP growth is still strong compared to the EU average. The Malta Government was originally looking at closing 2020 with a financial surplus of 1.5 % of GDP, however this has been reduced to a new forecast of 1.4 %, based on a slower economic growth. Moreover, Malta’s debt-to-GDP dropped to 43% in 2019 and is expected to be even lower at 40.4% in 2020.

On the 14th of October 2019, Finance Minister Hon. Edward Scicluna presented the Malta Budget measures for 2020.

 

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