Malta Budget 2011 Highlights
Yesterday evening the Minister of Finance, the Economy and Investments presented the Budget for 2011 in Parliament. During the Budget Speech he outlined the main priority areas for government and gave a review of the performance of the Maltese economy. He laid on the Table of the House of Representatives a copy of the Economic Survey 2010 and a copy of the Budgetary Estimates.
Government shall be working on achieving economic growth while reducing the public sector deficit to below 3% and investing further in education, health, job creation, the environment and the social welfare system.
He proposed a total expenditure of 2.9 billion Euros, of which 340 million Euros will be invested in education and training, 378 million Euros in health, 858 million in pensions and social welfare, and 440 million in capital projects.
Government revenue is expected to reach 2,791 million Euros, recurrent expenditure is expected to reach 2.547 million Euros, while capital expenditure is expected to reach 440 million Euros. The deficit is estimated to reach 195 million Euros by the end of 2011. The deficit-to-GDP ratio is expected to be 2.8% at the end of end of next year.