The Budget for 2011 will be presented on October 25, Finance Minister Tonio Fenech confirmed yesterday.

That the Budget would be presented in the last week of October has been known for some time but the final date was only announced yesterday.

Mr Fenech said he had concluded meetings with other ministers but still had another two meetings with the Malta Council for Economic and Social Development scheduled, one of them today.

Mr Fenech has set the government’s priority for next year as fiscal consolidation, avoiding overzealous spending cuts that might damage the economic recovery.

The aim is to trim about €50 million in expenditure to target a deficit below three per cent of GDP.

The Budget 2010 was presented last November 9.

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