A future-ready budget
In the current COVID-19 reality, Parliament recommences following the summer recess, bringing about the annual Budget, setting the scene for the year 2021. This year's budget is no ordinary budget. With the human toll of COVID-19 on the increase, it is only to be expected that the economic cost will continue to increase in the coming months. 2021 will definitely be a delicate year as the virus continues acting as a tax on human activity and as result companies will face additional pressures on their liquidity and solvency.
It is against this backdrop that the Malta Government had to design its budget for the year ahead. With both an internal and external environment that remains volatile, uncertain, complex and ambiguous; policy-makers need to find the right balance between stimulating short-run activity and using that same stimulus as a lever for long-run goals.
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