Prime Minister Robert Abela addresses an Ernst & Young conference Malta will have a Budget based on five principles which will continue to support even the capital investment which in the last Budget reached one billion euros.
In an address made by Prime Minister Robert Abela at the conference organized by Ernst & Young, which brings together among others a number of CEOs of companies and foreign investors in our country, he explained the Government’s economic vision for the years to come.
Prime Minister Abela explained that the 2024 Budget will be built on the commitment to continue to support and protect people and businesses with stability in energy prices in a context where international conditions are still challenging. This together with social measures that continue to help those who can afford it the least.
“We will continue to take care of the fiscal situation of our country with a reduction in the deficit and control of the debt compared to the Gross Domestic Product”, the Prime Minister pointed out and he talks about the fourth goal, that of strengthening investment both in skills and in favor of the creation of quality careers together with sustainable growth of the economy.
The Prime Minister said that all this is linked to the government’s commitment to continue improving the quality of life of every citizen. While talking about an economic vision of where we want to take the country for the coming years, the Prime Minister mentioned the environmental and digital hearts in an economy with a carbon neutral operation. The Prime Minister said that he looks forward to big clean energy projects including in Malta’s Exclusive Economic Zone.
“Multimillion projects such as Waste-to-energy, which will see waste become a resource and new educational facilities are part of the investments we are seeing in an economy that is vibrant and able to adapt to the new priorities it has the country”, noted Prime Minister Abela.
The Prime Minister said that our country is looking to take an economic path that will attract investment based on research and innovation. “These are investments with added value in our economy that create quality jobs and better incomes”, the Prime Minister said, noting salient points that emerged from the survey carried out by Ernst & Young, among which the an absolute majority of enterprises see their future in Malta while many see our country more attractive for investment than other European countries.
Robert Abela also said that the business community expects our country to continue investing in infrastructure while he pointed out how the investor in Malta is looking to continue investing in the training and skills of the workers, an important point and in line with -vision of the Government. Prime Minister Abela noted that the EY survey confirms that the taxation system of our country is a strong factor that attracts investors to Malta and gave the peace of mind that in this regarding Malta will continue to have an attractive environment if not more.
“We want to ensure that our taxation system is more effective and provides incentives aimed at more investment”, stressed the Prime Minister and he points out that these incentives should be for everyone. Dr. Abela ended his address looking forward to a future that will continue to bring changes that will complete Malta for tomorrow and a country that builds on successes it has achieved in recent years despite unprecedented challenges.
Photo (OPM)
