Lack of unilateral decisions creating barriers to travel
22 July 2021
Decisions taken in the EU are one of the main causes Global travel demand is...
The Council has adopted a decision
closing the excessive deficit procedures for Malta, confirming that it has
reduced its deficit below 3% of GDP, the EU's reference value for government
deficits. The decision abrogates the decision that
the Council took in July 2009 on the existence of an excessive deficit in Malta
after its general government deficit reached 4.7% of GDP in 2008.
The Commission projects the deficit to
fall further to 2.6% of GDP in 2012, mainly thanks to revenue-increasing
measures that are mostly of a one-off nature. Under a no-policychange scenario,
the general government deficit would widen to 2.9% of GDP in 2013 before
narrowing again, to 2.6% of GDP, in 2014, thus remaining below the 3% of GDP reference
value over the forecast horizon. Budget consolidation measures are however
contained in Malta's 2013 budget, which was adopted after the cut-off date for
the Commission's autumn economic forecast. The Council concluded that Malta's
excessive deficit has been corrected.
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