The Ministry for Finance and Employment presented Malta’s National Reform Programme for the year 2023 during an MCESD meeting.
In this report, all European members detail all the actions being implemented or scheduled to be adopted to boost employment and economic growth, as well as efforts to prevent and address macroeconomic imbalances. This document also details how the member states intend to comply with EU fiscal legislation and provides an update on the implementation of the member states’ proposals.
The Ministry for Finance and Employment delivered a presentation to the social partners about the National Reform Programme for 2023. It was highlighted how this comprehensive plan sets the government’s vision and approach in numerous areas, including the environment, productivity, justice, governance, economic stability, and taxation.
You may access the presentation here.
In his address, the Hon. Clyde Caruana, Minister for Finance and Employment, detailed on a number of issues currently being discussed in the Council of Finance Ministers of the European Union, ECOFIN, including the establishment of the fiscal general escape clause by the end of this year, the energy challenges and repercussions of the conflict between Russia and Ukraine, and the investment in renewable energy.
The Honorable Andy Ellul, Parliamentary Secretary for Social Dialogue, outlined how this national programme is a reflection of what our country has managed to develop and its future objectives. He described how the Recovery and Resilience Fund will be tied to this year’s report for the member states. Hon. Ellul stressed that these reports allow us to examine Malta’s current position and allows all parties to hold themselves accountable in a factual and empirical manner.
The Chair of MCESD, Perit. David Xuereb, described how the subject matter discussed at this Council meeting provides a framework for the prioritised reforms that the country must undertake in order to adapt to future developments, challenges, and opportunities. The Chairman emphasised that the necessary changes are not small, but the transformation is a must.
In light of this, the social partners actively participated in a discussion in which they presented useful opinions and tangible proposals to the Minister of Finance and Employment in support of the reforms that should be implemented for the benefit of society.