In a news conference in Pjazza Castilja addressed by Prime Minister Robert Abela after the Government presented the Budget for next year, it was said that this Budget is for the future as much as it is for today. The Prime Minister stressed that the Budget read by the Minister for Finance is a solid one because it addresses current challenges, such as the cost of living. He said that then the Budget will think about the future because it will give certainty and stability to businesses and families by giving peace of mind with the great help that the Government will continue to give in the field of energy.
“The future is beautiful and tonight we showed again that we were, still are and will remain a progressive force, with a social soul”, stressed Prime Minister Robert Abela. It was explained how €3.7 billion is being invested in social policy, education and health. The Prime Minister pointed out that the Budget for next year is full of new measures from the ‘Malta Together’ manifesto, which the people gave a strong mandate on. He explained how this is the first Budget out of five to carry out the plan that the Government has for our country after being elected last March.
Dr. Abela explained how the Budget for the coming year has the largest capital expenditure program in history which approaches one billion euros. Here he mentioned new health centers, modern schools and beautification and growth of gardens and national parks, among others. He mentions a number of measures including increases to pensioners and children’s allowance, tax rebates and a tax refund check, the Prime Minister gave two examples of how people will enjoy Budget 2023. Here he mentioned an elderly couple with the minimum pension who with the measures that will be introduced will see an increase of almost €1,100 per year in their income. This is apart from the fact that a family with two children with an average wage, will see an annual improvement of €1,820.
While he mentioned incentives and aid to businesses, the Prime Minister spoke about another key measure of the Budget, the one that gives a grant of €10,000 over a period of ten years to those who will buy their first property with a loan. In the background of the Bergja of Castile, the Prime Minister Robert Abela explained how these incentive and aid measures will be supported in a context of economic growth that our country is expected to experience as a result of the trust from abroad and also from -domestic demand. He explained how the national debt is expected to decrease much more than predicted and next year, the International Monetary Fund is estimating that the Maltese economy will grow six times more than the Euro Zone average. The Prime Minister said that in front of reforms and the biggest environmental investment in history which will start as promised, the Government has clear priorities with an emphasis on social justice and a better quality of life.
Photo (OPM)
