“Se Noffru Futur Sabiħ Lil Uliedna… Budget Li Joffri Kuraġġ U Tama Lill-Poplu” – Clyde Caruana

Finance Minister Clyde Caruana opened his Budget 2026 speech by describing it as a vision for Malta’s future rather than a simple financial plan. He said the Budget reflects the country’s aspirations and confidence in building a stronger, fairer nation.

“This is a Budget that does not fear the future, it builds it,” Caruana said, adding that Malta stands before its people with one of the strongest economies in Europe and with public finances “on solid footing”. He described it as another socialist Budget that offers “courage and hope” and delivers the largest package of measures ever introduced for the Maltese and Gozitan people.

Caruana said Malta continues to perform better than most European countries, which he claimed are struggling due to free-market approaches that fail to protect citizens and businesses. He stressed that Malta’s choice to safeguard families and enterprises has made it an exception in Europe.

The minister highlighted that the economy grew by 3.1% in real terms in the first half of 2025, with growth driven by domestic demand and a strong services sector. Tourism also expanded by almost 13%, with visitor spending rising by 19%.

Economic growth for 2025 is forecast at 4.1%, more than three times the EU average. Inflation is expected to stabilise at around 2.2%, while next year’s cost-of-living adjustment will amount to €4.66 per week.

Caruana emphasised that Malta’s debt remains below 50% of GDP, projected at 47.1% by the end of this year, while the deficit is expected to drop to 2.8% in 2026.

He concluded by saying the government’s fiscal credibility allows it to continue supporting families and businesses while ensuring long-term economic strength for future generations.

#MaltaDaily