The Malta Developers Association said today that it welcomes the news that Malta’s Consolidated Fund is no longer in a permanent deficit situation, with Government revenue exceeding payments in 2016.
"MDA recognises that this is an important milestone in Malta’s economic history and congratulates Government for reaching this objective without resorting to harsh austerity measures, while reducing taxation," the association said.
It said the construction and property industry has been one of the economic motors that led to this result and government’s pro-business attitude was also one of the reasons why this result was achieved.
"Now that Malta has reached this target, the government should ensure that the economy remains buoyant to sustain a situation where annual deficits will be a thing of the past while keeping in mind the need for the country not to overspend and keep employment in the public sector within a manageable level," the MDA said.