Finance Minister Prof. Edward Scicluna discusses the government’s budgetary process, and ways how this can be improved for the betterment of the country’s finances.
Prof. Scicluna explains that this begins with identifying difficulties the Government faces when attempting to reduce its expenditure and thus its deficit, and what is being done in this regard.
He remarks that many countries have undergone similar reforms, and says that this Government also is exploring options to undertake such a reform as well in the interest of stronger and more sustainable finances.
Prof. Scicluna explains that the Government is currently consulting with international institutions such as the World Bank and the International Monetary Fund for assistance and guidance in this regard.
He explains that with this external assistance, the Government will be better able to identify its main spending priorities, and allocate resources in line with those priorities.
– Thursday, 15th December, 2013