Prime Minister Joseph Muscat hopes that the promise of sale agreement with China would lead to a series of investments by Chinese companies in Malta.

Following agreements of investment with Libya, Dr Muscat said he would soon visit Israel to explore potential investment that could be brought Malta’s way, especially in the health sector.

He was speaking during a meeting with the Con-federation of Malta Trade Unions, which includes unions representing doctors, psychologists, pharmacists and bank employees, among others.

Dr Muscat said Malta was on target in reducing its deficit to below the three per cent mark.

He explained that soon after being elected to office, the Government faced a slippage in the deficit, which resulted in the EU opening an excessive deficit procedure against Malta.

He said he was proud that the EU had not imposed any measures but the Government made an internal spending review and cut costs while focusing on output.

In July, however, the International Monetary Fund had expressed doubts on how achievable the target was, saying it estimated this year’s deficit will reach 3.5 per cent and remain at that level in 2014, in excess of the EU’s three per cent threshold.

He told the CMTU that the Government had an ambitious legislative programme to set in motion once Parliament reconvened in a week’s time, among which was the Budget.

He promised there would be no surprises in the Budget.

Dr Muscat noted that the Government energy programme was also on target and would be achieved within the promised time frames.

Three consortia had submitted their final bid for the gas-powered plant and the ball was in the Government’s court to decide on which was offering the best deal, in terms of price, credibility, equipment and timelines.