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Malta Budget 2019 – the Finance Minister, the Hon. Prof. Edward Scicluna
announced key economic indicators as well as a number of key tax and other
measures
Enjoying a budget surplus for the third consecutive year, Malta has maintained its
economic momentum, remaining one of the best performing economies in Europe. The
economy grew by 6.7% in real terms in 2017 and positive results have been achieved in
various sectors, including local and foreign investment, tourism and exports.
The public debt target of 60% of GDP has been surpassed and stands at around 47% and
is projected to continue to reduce to 43.8% in 2019. Unemployment stands at 3.8% and
90% of the new jobs created were in the private sector. Inflation as at September 2018
stood at 1.7% and the cost of living adjustment (COLA) has been set at €2.33 per week for
the coming year.