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Prudent policies and advanced structural reforms contribute to higher wealth

Minister for Finance Edward Scicluna welcomes the IMF 2017 Article IV Mission Concluding Statement, stating that prudent policies and advanced structural reforms contributed to the strengthening of private and public-sector balance sheets, whilst steady job creation drove unemployment to historically low levels.   “I am also pleased to note that the IMF recommendations on building larger fiscal buffers that would add strength to Malta’s fiscal position, are already being implemented through the ... [+]

MONEYVAL preparatory training programme

Minister for Finance Edward Scicluna addressed a two-day training programme organised by MONEYVAL as part of the Country Preparation Programme. The Minister stated that, “Malta has the ability to close any lingering gaps, if any are found, within its coordination mechanism and the respective institutions to ensure that it remains ... [+]

Persistence and entrepreneurial spirit of the Maltese nation will see it through the challenges of increased regulatory requirements

“We have done pretty well with regards to economic growth as everyone can see, and the growth in the capital market is also something of an achievement. I am sure that every one of you has a vested interest to see this positive development continue.” This was stated by the ... [+]

Another positive report on Malta’s economic performance

Minister for Finance Edward Scicluna welcomes the European Commission’s autumn forecast, published yesterday, which expects the Maltese economy to continue growing robustly with record low unemployment and moderate wage growth, with the current account and the budget balances set to remain in surplus. PRESS RELEASE BY THE MINISTRY FOR FINANCE Malta is ... [+]

The regulatory intervention in Fintech could make or break its development

“The nature of the regulatory response to FinTech is a critical topic for both regulators and market participants. The challenge is to identify when the regulator should step in - the regulatory ‘tipping point’ between allowing innovation to develop without regulatory intervention and taking regulatory initiatives. Malta’s evolving approach towards ... [+]

Tax issues at Eurogroup and ECOFIN meetings

“The adoption of the principle of proportionality when dealing with small, though systemic banks, should be taken into consideration during the implementation process of any Banking regulations”. This was stated by Minister for Finance Edward Scicluna during the Eurogroup meeting in the margins of the Economic and Financial Affairs Council ... [+]

Eurogroup meeting – November 2017

“The benefits of human capital experienced by the economy as a whole, as well as on a personal level, are undeniable. Malta remains committed to continue to invest in education and training thereby continuing to improve the quality of our labour force. Government will further its work in this area ... [+]

We are succeeding in having a diversified access to finance

“We have been introducing a number of fiscal measures all aimed at attracting investors to use alternative financial institutions where to invest other than the traditional banking sector. Such diversification will not only increase the options of access to finance by the economic operators but will reduce the cost of ... [+]

The Malta Development Bank: A catalyst of alternative finance

“The Malta Development Bank’s strategic objective is to address market failures by offering financing facilities to support productive and viable operations where the market is unable or unwilling to accommodate such activities on its own in whole or part.  Its operations will focus on the provision of facilities to SMEs ... [+]

Consistent improvement in the fiscal balance in the first nine months of 2017

A surplus of €56.4 million was recorded in the consolidated fund balance for the first nine months of this year. This represented an improvement of €120.1 million in the consolidated fund balance, turning a deficit of €63.6 million recorded in January to September last year, to a surplus this year. PRESS RELEASE BY THE MINISTRY ... [+]