People can expect another social budget with no new taxes, Finance Minister Clyde Caruana said on Tuesday. Speaking at the beginning of a pre-budget consultation meeting with the Malta Council for Economic and Social Development (MCESD), he assured employers and citizens that despite the international financial hardships, the Maltese economy continues to steadily grow stronger. "Everybody is anxious about what this year's budget holds. The current economic challenges will likely be greater than during the pandemic," he began. "But I want all of you to rest assured that the country is in a strong and stable financial situation and it is in a position to overcome the challenges. And I want you to be assured that we don't need to raise taxes." Video: Jonathan Borg. Caruana said the country is able to withstand the financial challenges because the government has kept its debt to GDP ratio hovering around 60%, while the rest of the continent saw it climb to 100%. He expects to keep the national debt at that level for the foreseeable future. "I know there was a lot of talk about the country's finances running to the ground and about how much longer we have until we hit a brick wall.
↧