EU Commission confirms 2010 deadline for Malta to narrow its deficit
The European Commission, as expected, has given Malta up to the end of next year to correct its budget deficit in line with EU rules.
The commission in a statement observed that Malta last year had a deficit of 4.7% of GDP - when EU rules say the deficit should not exceed 3%.
It called on Malta to end the excessive deficit situation by 2010 in a credible and sustainable manner by rigorously implementing the budgetary measures planned for 2009 while avoiding any further deterioration in public finances.
"For 2010, new consolidation measures are called for," the commission said.
It also called on the Maltese authorities to ensure that budgetary consolidation towards the medium-term objective of a balanced budgetary position in structural terms was sustained after the excessive deficit was corrected. It invited the Maltese government to spell out the measures necessary to achieve a lasting consolidation and to strengthen the medium-term focus of the budgetary framework.
See also
http://www.timesofmalta.com/articles/view/20090624/local/brussels-sets-2010-deadline
16 Comments
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lgalea
Jun 24th 2009, 22:57
http://conferences.euobserver.com/optimise/index/
"...The reports, roughly half of which have been approved by EU finance ministers, set out a timetable for member-state governments to bring their deficits back below three percent. First up are Greece and Malta with a 2010 deadline, followed by Romania, Lithuania and Hungary, which have until 2011, Poland, France and Spain until 2012, Ireland until 2013 and the UK until 2013-14."
Why this discrimination against Malta EU Commission?
Why don't you bully the big countries and not tiny Malta cowards?
fredmallia
Jun 24th 2009, 20:40
the maltese say: 'bezqu fis-sema u giehom f'wicchom" and this is what happened on march 2008. they thought the mlp was going to win the election thus the gonzipn had made a real mess in the public finance, but they are now trying to get the donkey's tail... and going in circles. God have mercy of us poor maltese.....
Joanne Micallef
Jun 24th 2009, 20:13
@ Mr Sciberras - Do you actually live in Malta? Cause all that you mentioned ( more jobs, better environment, health and education ) have been in a constant decline for years now. Mind you, the Goverment did go on an irresponsible spending spree a while back.
R Axisa
Jun 24th 2009, 17:57
What happened to the statement by Dr Gonzi sometime ago that within a short time Malta will not only balance the deficit, but will have a surplus???!!!!
philip pace
Jun 24th 2009, 15:35
Mr.Sciberras,
We keep on complaining as that is the best that one can do under these circumstances.
As for me I keep on complaining as I can't get a good job and enjoy the luck of the chosen few.
I keep complaining because I am sick and tired of watching useless razzle dazzle projects aimed solely for propoganda purposes and then they are comfortably deleted.
I keep on complaining as I can't believe the farce of the Mater Dei hospital. Money down the drain.
Therefore Mr. Sciberras, I keep complaining until the Government does a good job.
Not much can be said of the present one that you are trying to protect.
If one does not complaint the he would be left on his own and probably denounced as a fool.
Unless of course you are in a very comfortable position not to complain like the chosen few.
Right Mr.Sciberras?
v.vella
Jun 24th 2009, 15:14
Why all this worry we have everything on track according to gonzi and his apologists.
We all remember the slogan we were fed for the last 20 years ie. MONEY NO PROBLEM
and the latest FINANZI FI SOD.And the famous saying by one pn finance minister that the national debt is no problem as it will be paid by future generations.Lets not forget when the Mintoff goverment left office it left behind a surplus in finance and a good surplus.But the pn along the years managed make a FIASCO in our finances plus it sold most of the family jewels.Now we will have some other assurance that all is under control,more pn spins.
lgalea
Jun 24th 2009, 13:57
What is the Commission going to do about the French deficit which is more than 7.5%?
Stop picking on tiny Malta and start picking someone your own size arrogant Commissioners.
a. sciberras
Jun 24th 2009, 13:51
why cannot we stop complaining? more deficit simply means that government is spending more money - hopefully meaning more jobs, better environment, health, education etc.
i am not saying that the government cannot perform better - because it definitely can and should - but we as individuals need to also do our part. how many of us throw their cigarette packet or their chocolate wrapper in the street (meaning more money spent on public cleansing), waste energy because we are at our place of work and not at home (meaning more pressure on our power stations) etc. etc. we need to understand that is not an easy year worldwide and problems are not only present in malta!
J Miceli
Jun 24th 2009, 13:45
In Commission’s forecasts issued last month, EU forecasts 21 out of 27 countries to exceed the reference value. So you cant expect a government to beat a recession and then also post a surplus!
In February, the Commission had already initiated excessive deficit procedures for France, Greece, Ireland, Latvia and Spain.
Now it also reported Malta, Lithuania, Poland and Romania.
TBriffa
Jun 24th 2009, 13:42
ARA XI GMIEL TA' BUDGET GEJ HAMES XHUR OHRA !!!
P.Cassar
Jun 24th 2009, 13:33
COMMENTS FROM PN APOLOGISTS ARE WELCOME BUT PLEASE REFER TO THE TOTAL ACCUMULATED DEBT OF BILLIONS OF EUROS. AWAITING.
Rudolf Degiorgio
Jun 24th 2009, 12:44
"FINANZI FIS-SOD" - GONZI (march 2008)
"aiming for a budget surplus by 2010" - Gonzi
What's Next???? More taxes????
Dr Law Gonzi is RESPONSIBLE for this mess!!!!!!!!!!!????
salvu calleja
Jun 24th 2009, 12:41
Does this mean we're going to pay more tax?(absolutely sure) Thanks Mr GonziPN for your PRE ELECTION EXPENDITURE....IT WAS A NICE CAMPAIN THAT WE HAVE TO PAY.....
D.Caruana
Jun 24th 2009, 12:38
Expect more taxes......that is how the government will reach its targets and if they are not reached expect more taxes to finance the EU fines.
Thank God for the E.U!!!!!!!!
philip pace
Jun 24th 2009, 12:34
And the elephants start to fly.
I think that the EU commission should audit its accounts for the last 14 years and then pick on tiny Malta.
The EU commission should also check about how some MEPS (not Maltese) go about by signing for work only to go out of the building to spend time out and then come back to sign out?
It is only Utopia and nothing else!!!
John Micallef
Jun 24th 2009, 12:25
YEAH RIGHT !!!!!!!!!!!!!!! JOKE OF THE DAY