Scicluna says Malta 'not being believed' in talks to avoid excessive deficit procedure

Finance Minister Edward Scicluna complained once more when speaking before a parliamentary committee today that in the government talks aimed at persuading the European Commission not to put Malta under an excessive deficit procedure, Malta was 'not being believed'. He blamed the previous government for the situation, while former finance minister Tonio Fenech blamed the current government. Prof Scicluna told the economic affairs committee that the European Commission did not consider the holding of a general election as an excuse for temporary slippage in deficit targets. The government, he said, was insisting that the deficit's slight increase over the 3% threshold was temporary and a plan was in hand to slip back below 3% by year's end. Mr Fenech said the real concern was that the Commission was actually projecting deficit growth of 3.7% this year, with next year being 3.6% in a no policy change scenario. On the basis of the minister's comments it looked like Malta would be placed under the excessive deficit procedure. So what would be done about it? Prof Scicluna said the previous government had given the impression that the Budget was agreed with the European Commission. Yet...