“We have done pretty well with regards to economic growth as everyone can see, and the growth in the capital market is also something of an achievement. I am sure that every one of you has a vested interest to see this positive development continue.” This was stated by the Minister for Finance Edward Scicluna whilst addressing the Malta Stock Exchange Awards Dinner.

PRESS RELEASE BY THE MINISTRY FOR FINANCE

He spoke about evidence in growth through the level of activity in the marketplace. Stating that he holds very dear the new prospects of Platform, since it is an excellent proposition for SMEs in Malta and abroad to raise much needed capital in an environment that promotes investment, good corporate governance, and appropriate reward for risk and investor participation in small business growth.

When speaking about the Institutional Financial Securities Market (IFISM), he said that it is specifically designed to attract new foreign business to the Exchange and that it is expected to see new listings in early 2018.

Minister Scicluna said that there is a feeling of activity in the financial services sector that has not been felt for some time. An activity, which, he says, could only be sustained by being more attentive that the brand that Malta represents remains to be seen in good stead.

The Minister stated that one will undoubtedly see more pressure rising through increased regulatory requirements. He stressed that the implications of this and other legislation, anti-money laundering and other professional standards that competition brings can appear daunting but underneath all this, the very foundation of our being, is the indomitable and entrepreneurial spirit that has seen Maltese national identity survive and prosper in the face of adversity.

He encouraged everyone by saying that these challenges will be overcome and the development and growth will be sustained, if everyone works to keep the momentum gained together with the professionalism and excellent standards achieved till now.

Wednesday 15th November 2017

Minister for Finance Edward Scicluna addressed a two-day training programme organised by MONEYVAL as part of the Country Preparation Programme. The Minister stated that, “Malta has the ability to close any lingering gaps, if any are found, within its coordination mechanism and the respective institutions to ensure that it remains fully compliant to the principal international standards to counter money laundering.”

PRESS RELEASE BY THE MINISTRY FOR FINANCE

MONEYVAL is a permanent monitoring mechanism of the Council of Europe, a pan-European organisation with 47 member states reporting directly to its principal organ, the Committee of Ministers. MONEYVAL is entrusted with the task of assessing compliance with principal international standards to counter money-laundering and the financing of terrorism, the effectiveness of their implementation, as well as the task of making recommendations to national authorities with respect to necessary improvements to their systems.

Malta will be undergoing an evaluation by MONEYVAL during 2018.

Minister Scicluna stated that during this preparatory stage Malta should take up the opportunity to further strengthen the country’s regulatory and supervisory role.

This seminar was attended by over a hundred top officials from the public and private sectors, amongst which were members of the Judiciary, the Police Force, the Office of the Auditor General, the Revenue Department, Customs, the Ministry for Finance, the Financial Intelligence Analysis Unit, the Malta Financial Services Authority, the Malta Gaming Authority, the Central Bank of Malta and leading commercial banks.

Friday 17th November 2017

Minister for Finance Edward Scicluna welcomes the IMF 2017 Article IV Mission Concluding Statement, stating that prudent policies and advanced structural reforms contributed to the strengthening of private and public-sector balance sheets, whilst steady job creation drove unemployment to historically low levels.

“I am also pleased to note that the IMF recommendations on building larger fiscal buffers that would add strength to Malta’s fiscal position, are already being implemented through the attainment of an annual fiscal surplus. Furthermore, through the 2018 Budget, we are also addressing the IMF recommendations on social and affordable housing”, remarks Finance Minister Edward Scicluna.

PRESS RELEASE BY THE MINISTRY FOR FINANCE

The report welcomes the Government’s progress in improving public finances. Specifically, the report notes that Malta achieved its medium-term objective (MTO) of a structural balance in 2016, three years ahead of schedule as a result of buoyant tax revenues and contained expenditure growth. It also notes that public debt fell below 60 per cent of GDP. The IMF expects the 2017 general Government surplus to reach 1.3 percent of GDP.

The report also notes that Malta’s economic growth remains one of the strongest in Europe, reflected by rapid income convergence towards the European Union (EU) average. It expects the robust growth to continue in the coming years – mainly driven by domestic demand backed by rising incomes and historically-low unemployment. The IMF further expects the risks to this outlook to be broadly balanced.

The IMF mission acknowledges Malta’s favourable external position, adding that buoyant services exports will continue to sustain current account surpluses.

The IMF also welcomes Government’s plans to upgrade the road network and to push higher utilisation of public transportation which, it states, will help to mitigate endemic congestion, thereby improving the population’s well-being and fostering business productivity.

The report notes that domestic banks remain sound and profitable and invites the Government to continue implementing measures that further safeguard financial stability.

– 18th November, 2017

“Being a small island state Malta has a lot to offer in the area of sustainable development, in view of its small size and various development pressures. Two areas which stand out are solid waste management and water resource management”, said Finance Minister Edward Scicluna at the High-Level Conference on Financing for Development and the 2030 Agenda for Sustainable Development in Doha, Qatar on 18 and 19 November 2017.

PRESS RELEASE BY THE MINISTRY FOR FINANCE

Minister Scicluna gave an address during the Ministerial Round Tables about Malta’s efforts and policy innovations aimed at implementing the Addis Ababa Action Agenda and the Sustainable Development Goals. Minister Scicluna said that Malta’s unprecedented economic growth, attained partly through structural reforms, was successful in increasing the female workforce participation in line with Sustainable Development Goal 5.

Minister Scicluna spoke of Malta’s participation in international efforts through its Official Development Assistance policy, mainly Malta’s co-financing of 12 projects in Africa, Asia, and South America in the fields of health, education, water, and gender equality.

On the margins of the conference, Minister Scicluna met with Minister for Finance of Qatar Ali Shareef Al Emadi and they discussed issues of mutual interest to both countries. He also had a bilateral meeting with Under-Secretary-General of Economic and Social Affairs of the United Nations Liu Zhenmin. The Minister updated the Under-Secretary-General on Malta’s commitments in implementing the Sustainable Development Goals contained in Agenda 2030 and their financing. In the discussions, a special reference was made to EU investment in the MENA region and the G20 Compact with Africa initiative, both of which can have a positive impact both on development and migration.

Saturday 18th November 2017

Aktar kmieni din il-ġimgħa l-Parlament Ewropew iddiskuta s-suppost kollass tas-Saltna tad-Dritt f’pajjiżna. Kull min segwa d-dibattitu seta’ faċilment jinnota l-iskorrettezzi u l-esaġerazzjonijiet dwar pajjiżna li bdew jingħadu u jkunu ripetuti minn uħud mill-Membri Parlamentari Ewropej li jappartjenu lill-Partit Popolari Ewropew (PPE), il-grupp li lilu jappartjeni l-Partit Nazzjonalista.

Skorrettezzi u esaġerazzjonijiet li la jagħmlu ġieħ lil min qalhom, la lil min instigahom u lanqas lil min appoġġjahom għax kollha jafu li kienu ferm bogħod mill-verità. Aktar u aktar meta kien hemm min irrefera għas-settur finanzjarju u akkuża lil pajjiżna b’affarijiet li ftit tal-ġranet qabel kienu ġew skartati bl-aktar mod kategoriku mir-Rapport tal-Kumitat Pana.

Imma la darba kienu ddeċidew li jippruvaw jagħmlu ħsara lil pajjiżna allura baqgħu għaddejjin b’dak li kellhom preparat minn qabel. U għalhekk huwa għajb għal min ingħaqad f’dan l-attakk fuq pajjiżna, inklużi t-tliet Membri Parlamentari Ewropej eletti f’isem il-Partit Nazzjonalista.

Ma jfissirx li f’pajjiżna kollox perfett. Imma liema huwa dak il-pajjiż li jista’ jsejjaħ lilu nnifsu perfett f’kollox, inklużi dawk li Membri Parlamentari Ewropej tagħhom tgħidx kemm ikkritikaw lil pajjiżna?

Żgur li mhux ġustifikabbli qtil ta’ persuna, aħseb u ara ta’ ġurnalista. Imma ma jistax jingħad li l-Gvern mhux qed jagħmel dak kollu possibbli biex ikun solvut il-qtil ta’ Daphne Caruana Galizia, kif wara kollox ġie rimarkat fil-Parlament Ewropew stess minn min verament kien qed jitkellem b’mod ġenwin. Żgur li ma jistax jingħad li f’pajjiżna l-libertà tal-espressjoni, il-midja f’kull forma tagħha hija b’xi mod imxekkla jew li l-pajjiż qiegħed f’kaos totali.

Min segwa d-dibattitu seta’ faċilment jinnota kif kien hemm min irrimarka li l-Gvern Malti talab l-għajnuna barranija inkluż tal-Europol bilgħan li jkun solvut il-każ. Min ma kienx ġenwin fi kliemu warrab dan kollu u ċertament li meta l-Maltin u l-Għawdxin iħarsu madwarhom fl-isfond ta’ dak li intqal minn xi wħud fil-Parlament Ewropew jistaqsu lilhom infushom jekk dawn id-diskorsi kienux verament dwar pajjiżna.

Ma jfissirx li Membru Parlamentari Ewropew Malti jkun qed jagħmel xiħaġa ħażina jekk iħoss li għandu jirrimarka dwar suġġett partikolari li jħoss li dwaru ma jkunx sar biżżejjed f’pajjiżu. Ma naħsibx li kont żbaljajt meta fil-Parlament Ewropew f’okkażjoni partikolari kont qajjimt il-każ ta’ ħsejjes kbar mill-Freeport fuq in-naħa ta’ Birżebbuġia wara li kien irriżulta li mappa li kellha ssir biex almenu jkunu kontrollati l-ħsejjes saret fuq il-Belt Valletta u tas-Sliema u mbhux fuq Birżebbuġa. Kont kritikajt dan il-fatt b’mod moderat. Imma b’hekk ma kontx qed nikkundanna lil pajjiżi.

Hija xiħaġa rari li fil-Parlament Ewropew ikun hemm pajjiżi li jikkundannaw xi pajjiż ieħor. Eżempju ta’ dan niftakar meta l-Gvern Taljan ta’ Berlusconi ġie kkritikat bil-qawwi kollha għall-fatt li kien qal li se jiftaħ l-imigrazzjoni klandestina u jagħti l-passaporti biex l-klandestini jinfirxu mal-Ewropa kollha.

Fl-istess diskussjonijiet li saru dwar Malta hemm il-każ tal-Ungerija fejn il-Gvern Ungeriż mexa kontra l-ispirtu demokratiku li għandu jkollu kull pajjiż meta għalaq il-gazzetti u pprova jindaħal fil-Bank Ċentrali, indaħal sfaċċatament lill-Qrati, saru arresti ta’ membri tal-Oppożizzjoni u bil-mod il-mod bdew jitneħħew id-drittijiet u l-libertajiet flimkien ma’ bini ta’ ħitan, affarijiet li mhumiex demokratiċi u huma kundannabbli.

Ma jidhirlix li f’pajjiżna sar jew qed isir xiħaġa simili u sadattant Membri Parlamentari Ewropej tal-PPE fil-konfront tal-Ungerija rreaġixxew b’mod ferm differenti mill-mod kif ħadmu fir-rigward ta’ pajjiżna stess.

U la darba qiegħed nikteb fl-isfond ta’ dak li seħħ fil-Parlament Ewropew fir-rigward ta’ Malta aktar kmieni din il-ġimgħa naħseb li huwa opportun li nagħti ħarsa ħafifa lejn x’inhu eżattament ir-rwol ta’ Malta fil-Parlament Ewropew. Nagħmel dan abbażi ta’ kważi ħames snin esperjenza li servejt bħala Membru Parlamentari Ewropew.

Huwa fatt magħruf li Malta hija fost l-iżgħar pajjiżi membri tal-Unjoni Ewropea u għalhekk ir-rappreżentanza tagħna fil-Parlament Ewropew hija ta’ sitt membri li jkunu eletti kull ħames snin. Għandna sitt membri u dawn mhux abbażi proporzjonali bażata fuq l-ammont tal-popolazzjoni imma għax hemm speċi ta’ numru minimu ta’ membri li pajjiżi żgħar bħal Malta għandu jkollhom.

Xorta waħda fil-Parlament Ewropew, li huwa ffurmat minn 750 Membru Parlamentari, mad-daqqa t’għajn rappreżentanza ta’ sitta biss tidher bħal qatra f’oċejan. Dan huwa kollu minnu, imma jibqa’ l-fatt li Malta għandha vuċi fil-Parlament Ewropew u jiddependi fuq kemm taħdem bil-għaqal u b’kapaċità r-rappreżentanza tagħna li pajjiżna jingħata importanza u jkun rispettat il-kontribut ta’ pajjiżna.

Huwa umanament impossibbli li s-sitt Membri Parlamentari Maltin ilaħqu ma’ ‘l fuq minn 20 kumitat tal-Parlament Ewropew. U allura r-rappreżentanza Maltija tkun trid tagħraf tagħżel li tipparteċipa b’mod dirett f’dawk il-kumitati li finalment ikunu l-aktar importanti għal pajjiżna. Ikun imbagħad jiddependi fuq il-kapaċitajiet tal-Membru Parlamentari nnifsu li jingħata l-inkarigu ta’ rapporteur ta’ kumitati partikolari li xogħlu jkun li jaħdem fuq il-preparazzjoni ta’ leġislazzjoni partikolari li l-abbozz tagħha jingħatalek mill-Kummissjoni. Min-naħa l-oħra tista’ tingħata l-inkarigu ta’ shadow rapporteur f’isem il-Grupp Politiku li lilu tappartjeni u allura tkun trid tmexxi n-negozjar mar-rapporteur dwar emendi li l-Grupp tiegħek iħoss li għandu jressaq għall-abbozz ta’ leġiżlazzjoni kif imħejji mill-Kummissjoni.

Qiegħed nispjega dan kollu biex nuri kif minkejja ċ-ċokon ta’ pajjiżna xorta waħda għandna vuċi fil-Parlament Ewropew u xorta waħda nistgħu nattiraw importanza għal pajjiżna.

Personalment nista’ ngħid li ma kinetx okkażjoni waħda fejn inħtart rapporteur biex inħejji rapporti ta’ importanza kbira. Kont rapporteur fil-każ tad-dħul ta’ l-Estonja fiz-Zona Ewro. Ingħatajt l-istess inkarigu meta stabbilejna dak li jissejjaħ European Stability Mechanism speċifikament biex il-Greċja tingħata bail out mill-kriżi finanzjarja li kienet tinsab fiha. Xiħaġa li kienet maħsuba wkoll biex tkun tista’ tapplika għal pajjiżi membri oħrajn li jistgħu jsibu ruħhom fl-istess sitwazzjoni li kienet il-Greċja.

Tħoss sodisfazzjon kbir li tkun qiegħed tirrappreżenta lil pajjiżek minn pożizzjoni daqshekk importanti. U huwa għalhekk li trid tagħraf taħdem f’oqsma li jkunu jistgħu jolqtu direttament lil pajjiżek, li dak li se jkun qiegħed jiġi deċiż trid tikkunsidrah ukoll mil-lat nazzjonali, minn kif jista’ jolqot lilna bħala Malta.

L-MEPs Maltin għandhom responsabbiltà kbira fuq kif jiġi stmat pajjiżna fl-Unjoni Ewropea. U għalhekk għad-dibattitu ta’ nhar it-Tlieta li għadda fil-Parlament Ewropew nemmen li r-reazzjoni ġenerali kienet ta’ kundanna għal min ipprova jkasbar lil pajjiżna għal xejn b’xejn. Kulħadd jaf li dak li sar fil-Parlament Ewropew jista’ jkollu effetti ħżiena fuq ir-reputazzjoni ta’ pajjiżna. Jaf li jista’ jkun affettwat l-investiment barrani, bil-konsegwenza li jkun affettwat il-ħolqien ta’ xogħol u l-progress ekonomiku ta’ pajjiżna.

Konvint li l-poplu kapaċi jasal għal ġudizzju fuq dak li sar nhar it-Tlieta li għadda fil-Parlament Ewropew dwar min verament għandu għal qalbu l-interess tal-pajjiż.

Orizzont  17-11-17

“Malta is in the process of launching its own development bank.” This was stated by Minister for Finance Edward Scicluna whilst addressing a Commonwealth Local Government Conference.

PRESS RELEASE BY THE MINISTRY FOR FINANCE

He stressed that this bank would address market failures where, because of ever increasing regulatory restrictions, commercial banks were more risk averse towards businesses. He spoke of incentives which resulted in the increasing participation of women in the employment sector. He said that Malta wanted to hit hard the relative obstacles which rendered the country at the bottom where female participation is concerned. Amongst these incentives he mentioned tax breaks, free childcare, and the tapering of social benefits.

Minister Scicluna said that Malta, together with other countries, contributes towards numerous   projects around the world,  as in the case of Sub-Saharan Africa.

When talking about Malta’s role in the migratory issue, he stressed that Malta’s emphasis is primarily on development.

Regarding local councils in Malta, Minister Scicluna said that in Malta the Government can decentralise very little when one takes into consideration that our small country is fragmented into 68 smallish  local councils, with the result that they suffer from a lack of economies of scale in contrast with larger countries.

Wednesday 22nd November 2017

“Malta’s financial sector is at the moment passing through a severe stress test both locally and internationally but investors from outside believe in us and we will continue to be one of the competitive choices in the Mediterranean.”

PRESS RELEASE BY THE MINISTRY FOR FINANCE

This was stated by Minister Edward Scicluna during a seminar entitled ‘The Regulatory Changes Ahead’, organised by the Institute of Financial Services.

Minister Scicluna referred to the e-gaming sector, compliance and regulatory issues, Malta’s tax regime and business transparency as topics which are attracting a lot of attention in the media. He said that we need to take up these issues and address them separately.

The Minister For Finance emphasised the need for our financial institutions to become more efficient. When touching on transparency he mentioned various considerations and changes that are likely to come into force. One of them is the register of companies being accessible to a wide-set of users. When speaking about data protection, the Minister said that what was sacred a few years ago is no longer sacred today, as we have turned to a Facebook culture where confidentiality is now on the defence.

Regarding anti-money laundering, the Minister reminded practitioners of their responsibilities in carrying out due diligence on their clients.

Minister Scicluna said that international professional advisors are being engaged to prepare the country for the MoneyVal audit. Here he reiterated the importance of addressing the communication  gaps between the various organisations.

Thursday 23rd November 2017 

Fi tmiem il-ġimgħa li għaddiet attendejt konferenza internazzjonali ta’ livell għoli f’Doha, il-belt kapitali tal-Qatar, li kellha l-għan li jkompli jkun miġġieled il-faqar dinji permezz ta’ finazjament aħjar għal proġetti ta’ żvilupp. Konferenza organizzata mill-Ġnus Magħquda flimkien mal-Qatar bit-tema “Financing for development and the means of implementation of the 2030 agenda for sustainable development”.

Flimkien mal-Ministru għall-Finanzi tal-Qatar Ali Shareef Al Emadi (it-tielet mix-xellug) deħlin għall-konferenza ta’ tmiem il-ġimgħa li għaddiet f’Doha, belt kapitali tal-Qatar.

It-terminu FAQAR huwa wieħed kumplikat immens. Terminu li jista’ jkun interpretat b’diversi modi. Għandek dak li jissejjaħ faqar relattiv u għandek il-faqar assolut. Il-faqar mhux bilfors ikun ifisser biss nuqqas ta’ finanzi. U huwa għalhekk li l-faqar jitqies bħala xi ħaġa kumplikata, speċjalment f’kuntest globali, li tagħmel x’tagħmel, b’xi mod, f’livell jew ieħor, qisu se jibqa’ miegħek.

Huwa minnu li l-finanzjament huwa importanti fil-ġlieda kontra l-faqar permezz tal-iżvilupp, imma mbagħad hemm il-kriterji ta’ kif jintużaw dawn il-finanzi fil-ġlieda kontra l-faqar. Il-flus jistgħu jkunu l-assolut f’kampanja speċifika, bħal per eżempju biex ikun provdut ikel jew ilbies, għal numru ta’ nies li jkunu tilfu kollox f’diżastru naturali li jkun laqat lill-post fejn ikunu qegħdin jgħixu. F’każ bħal dan, tali provvisti jkunu l-ħtiġijiet immedjati.

Fuq xenarju globali fejn żewġ terzi tal-popolazzjoni tad-dinja għadhom f’xi forma ta’ faqar, il-faqar ma jkunx kawżat għal għarrieda. Ikun allura irid jiġi studjat x’ikun qed jikkawża dik is-sitwazzjoni, li ma tkunx waħda temporanja. Raġunijiet kumplikati riflessi f’nuqqas ta’ xogħol fil-pajjiż konċernat, problemi soċjali, nuqqas ta’ edukazzjoni, livell baxx sanitarju u ta’ saħħa u istituzzjonijiet dgħajfin.

Il-livell tal-faqar dinji jvarja minn faqar kbir ta’ ġuħ għal faqar kawżat minn sotto żvilupp, fejn minkejja li għandek dħul mhux ħażin xorta jibqgħu jippersistu s-sintomi ta’ faqar u ta’ nuqqas ta’ żvilupp. Għalhekk tkun meħtieġa t-tfittxija għar-raġunijiet għala żvilupp li jkun għaddej minnu pajjiż ma jkunx għaddej bih pajjiż ieħor. Xiħaġa li sfortunatament ma tikkonċernax biss reġjuni partikolari, jew pajjiż partikolari, imma kontinenti sħaħ bħalma huwa l-kontinent Afrikan, fejn il-maġġoranza assoluta tal-pajjiżi li jiffurmaw dan il-kontinent għadhom ferm bogħod milli jilħqu dawn il-miri.

L-għaqda dinjija tal-pajjiżi, il-Ġnus Magħquda, hija konxja minn din is-sitwazzjoni. Il-membri li jiffurmawha kollha jafu li jrid isir xiħaġa f’dan ir-rigward. Minn dejjem ġew iffissati miri fil-konfront tal-ġlieda dinjija kontra l-faqar.

Fis-Sena 2000, il-bidu ta’ millenju ġdid, kienu tfasslu dawk li ssejħu Millennium Development Goals, il-miri ta’ żvilupp. Dakinhar id-dinja riedet, u fasslet, kemm jista’ jitnaqqas il-faqar dinji fi żmien 15-il sena. Dak it-terminu għalaq fis-sena 2015 imma l-faqar għadu magħna.

Għandna allura naqtgħu qalbna jew għandha tonqsilna r-rieda milli nkomplu bil-ġlieda tagħna kontra l-faqar? Żgur li le. Huwa għalhekk li nħolqu miri ġodda, miri maħsubin biex ikunu intlaħqu sas-sena 2030, Development Agenda 2030, l-aġenda ta’ żvilupp.

Development Agenda 2030 tinkludi 17-il mira. Qabel kienu tmienja u issa saru 17. Saru 17 għax tmienja kienu miri dojoq wisq. Issa huma aktar miftuħin u jipprovaw jolqtu kull aspett tal-iżvilupp. Hemm diversi eżempji ta’ dawn l-aspetti, bħalma huwa t-tkabbir ekonomiku li kważi huwa xi ħaġa bażika. Hemm il-qasam tas-saħħa, il-qasam edukattiv u hemm il-qasam tal-ambjent. Kull qasam huwa mira fih innifsu.

Aspetti li għalkemm ikunu ‘komuni’ ma jkunux ifissru l-istess għal kulħadd. Nagħti eżempju. Kull pajjiż jista’ jkollu l-ilma, imma mhux kull pajjiż għandu ilma nadif. Ilma mhux nadif jikkawża l-mard u l-imwiet.

Għandek l-ibliet. Kull pajjiż għandu l-ibliet tiegħu imma mhux għal kull pajjiż ifissru l-istess. F’pajjiżi sotto żviluppati l-ibliet huma mifnijin mill-problemi għas-sempliċi raġuni li l-maġġoranza tal-popolazzjoni timxi lejhom għax hemmhekk biss hemm il-faċilitajiet edukattivi jew tas-saħħa, hemmhekk biss hemm l-umanità fl-iżvilupp tagħha. Sitwazzjoni li mbagħad twassal għal problemi kbar sanitarji kawżati minn nuqqas ta’ provvista adekwata ta’ ilma, servizzi ta’ drenaġġ, nuqqqas ta’ postijiet ta’ abitazzjoni. Eżempju klassiku huwa l-Kajr, fl-Eġittu, fejn wieħed mill-ikbar ċimiterji huwa miżgħud bin-nies għax m’għandhomx fejn joqogħdu. Inkella għandek postijiet fejn in-nies jokkupaw anke l-bjut.

Development Agenda 30 għandha miri oħrajn, apparti l-faqar. Hemm il-ħajja fuq l-art, il-ħajja ta’ taħt il-baħar, il-kwistjoni tal-ugwaljanza, l-ugwaljanza tal-ġeneru, ir-rwol tan-nisa f’dak li huwa żvilupp. Dan kollu qiegħed ikun segwit globalment u għalhekk isiru konferenzi bħal dik li rreferejt għaliha fl-introduzzjoni ta’ din il-kitba. Jattendu għalihom il-Ministri tal-Finanzi għax ovvjament inutli jissemmew u jitfasslu proġetti jekk ma jkunx hemm finanzjament għalihom.

Apparti li bħala poplu Malti huwa fatt magħruf kemm inkunu ġenerużi kull meta jinqala’ l-bżonn mhux biss lokalment imma anke internazzjonalment, bħala pajjiż nagħtu s-sehem tagħna wkoll. Huwa dmir morali li nagħtu rendikont ta’ kemm nagħtu flus għal dan l-iżvilupp. Nagħżlu aħna lil min nagħtu, u kif nagħtuhom. Għandna proġetti fl-Afrika u fl-Asja u ‘l quddiem ikollna wkoll fl-Amerika t’Isfel.

Il-flus huma importanti biex isiru l-proġetti, imma l-iżvilupp mill-faqar jibqa’ jkun kumplikat. Dan m’għandux jaqtgħalna qalbna. Nafu kemm kien hemm pajjiżi li kienu fil-faqar u żviluppaw u llum jinsabu ferm aħjar. Dan għandu jagħmel kuraġġ lil pajjiżi oħrajn li llum jinsabu f’diffikultajiet, li għadhom lura filwaqt li nittamaw li fl-għaxar, ħmistax-il sena li ġejjin naraw aktar pajjiżi joħorġu mill-faqar u jkunu parti mid-dinja ċivilizzata u industrijalizzata għal ħajja aħjar flimkien.

Il-Ġimgħa 24 ta’ Novembru 2017

Minister for Finance Edward Scicluna welcomes the latest Government Finance Data published today by NSO, confirming a surplus of €4.3 million in the consolidated fund balance for the period January to October of this year.

PRESS RELEASE BY THE MINISTRY FOR FINANCE

This represents an improvement of €109.2 million, turning a deficit of €104.9 million in the period January to October of last year to a surplus this year.

Minister for Finance Edward Scicluna comments: “I am pleased to note that not only are we registering consistent improvements in the consolidated fund balance over an already successful year but also that the fiscal performance for the first ten months of this year remains better than projections. Thus, I am confident that we will manage to attain our end-of-year fiscal target with ease”.

Indeed, the significant improvement in the consolidated fund balance was the result of an increase in revenue of €374.9 million or 12.9 per cent which outweighed the contained increase in total expenditure of €265.8 million or 8.8 per cent.

Finance Minister Scicluna notes with satisfaction that all revenue categories recorded significant increases with the highest increases recorded in revenue from income tax and VAT. This shows that both employment and consumption continue to grow at robust rates.

These developments had a positive impact on debt developments as gross debt decreased by €73.9 million in October of this year, over the same month last year. As a result, the interest component of public debt servicing costs declined to €181.7 million, down from €187.0 million recorded last year.

Friday 24th November 2017

Minister for Finance Edward Scicluna welcomes another positive credit rating for the Maltese economy, this time by Creditreform Rating which affirmed Malta’s long-term sovereign rating at A+ with a stable outlook.

PRESS RELEASE BY THE MINISTRY FOR FINANCE

 “Just two days after receiving the green light by the European Commission on Malta’s 2018 Budget and the health of the economy, we have now received another positive endorsement, this time by the German credit rating agency, Creditreform. Such results will continue to boost international and local consumer and business confidence,” commented Minister Scicluna.

The A+ rating was driven by a number of favourable macroeconomic and fiscal developments including the very strong growth performance exhibited by the Maltese economy which supported further improving labour market conditions and the output growth, which the credit rating agency expects to remain among the strongest in Europe in 2017 and 2018.

Creditreform also attributes the positive rating to the advancements in budget consolidation in 2016, which it expects to continue in the medium term. Indeed, it positively remarks that the Government has a track record of overachieving its fiscal targets.

Underpinned by budgetary surpluses and robust growth prospects, Creditreform expects further progress on debt reduction, with the government’s debt-to-GDP ratio expected to fall close to 50 per cent in 2018.

In the coming years, economic growth is expected to be backed by further gains in disposable household income and ongoing employment growth, which is in turn supporting private consumption. Indeed, on employment, the report acknowledges the labour market policies implemented in 2014 which were aimed at increasing the labour force participation rate especially amongst females and notices that such policies are indeed bearing fruit.

On external trade, Creditreform positively notes that exports have sustained their growth momentum, contributing to an improvement in the trade balance and an increase in the current account surplus.

Saturday 25th November 2017

L-iskema tal-first-time buyers, li kellha tagħlaq fl-aħħar ta’ din is-sena, mhux talli se tiġi estiża, talli min għandu qabar issa se jkun eleġibbli għall-iskema l-ġdida.

Dan qalu lbieraħ il-Ministru għall-Finanzi Edward Scicluna meta flimkien mas-Segretarju Parlamentari għas-Servizzi Finanzjarji, Ekonomija Diġitali u Innovazzjoni Silvio Schembri kien qed jindirizza sessjoni oħra ta’  Gvern Li Jisma’.

Il-Ministru Scicluna kompla jiċċara li ma kien hemm l-ebda bdil jew introduzzjoni ta’ ħlas ta’ wieħed fil-mija tal-boll kif ġie rrapurtat fil-media. Huwa kkonferma li kemm fl-iskema preżenti kif ukoll fl-iskema l-ġdida, li tibda minn Jannar tas-sena l-ġdida, min hu eliġibbli mhux ser ikun qed iħallas l-ebda taxxa tal-boll proviżorja, imma se tkompli titħaddem is-sistema eżistenti fejn dak li jkun ma jħallasx it-taxxa tal-boll mal-iffirmar tal-kuntratt.

STQARRIJA MILL-MINISTERU GĦALL-FINANZI

U

MIS-SEGRETARJAT PARLAMENTARI GĦAS-SERVIZZI FINANZJARJI, EKONOMIJA DIĠITALI U INNOVAZZJONI

Il-Ministru għall-Finanzi semma wkoll li se jkun hemm working group li għandu jagħmel rakkomandazzjonijiet li għandhom iwasslu għall-qafas regolatorju meħtieġ biex l-iskema tal-equity release tiġi offruta f’pajjiżna wkoll .

Waqt l-istess sessjoni, is-Segretarju Parlamentari Schembri ħabbar li llum l-Awtorità Maltija għas-Servizzi Finanzjarji (MFSA) se tkun qed toħroġ dokument għall-konsultazzjoni biex tirregola l-cryptocurrencies exchanges, ICOs, u dawk li jipprovdu s-servizz f’din l-industrija.

“Dan id-dokument se jservi ta’ bażi biex titfassal il-politika f’dan il-qasam”, qal Silvio Schembri.

Thursday 30th November 2017

“L-industrija tal-kostruzzjoni hija sinifikanti u wieħed irid jieħu ħsiebha anke għax tolqot bosta individwi u setturi importanti oħrajn bħall-banek.”

STQARRIJA MILL-MINISTERU GĦALL-FINANZI

Hekk qal il-Ministru għall-Finanzi, il-Professur Edward Scicluna, waqt l-għeluq tal-‘Konferenza Nazzjonali dwar l-Analiżi tal-Proprjetà u l-Industrija tal-Kostruzzjoni’ organizzata minn Property Malta.

Il-Ministru kompla li l-indikaturi kollha juru li fil-qasam tal-proprjetà ma hemmx ‘bużżieqa’. Qal li hemm sitwazzjoni ta’ domanda qawwija għall-proprjetà u s-suq qed jirreaġixxi billi qed jinbnew aktar djar.

Il-Ministru Edward Scicluna tkellem ukoll dwar il-kiri li kif qal hu, “wieħed irid iżommu f’perspettiva,” anke għax f’pajjiżna, 84 fil-mija huma sidien ta’ darhom u huma 16 fil-mija biss il-Maltin li jikru. Qal li minkejja l-persentaġġ huwa żgħir, il-Gvern għaddej bi skemi biex ħadd ma jintlaqat ħazin mis-suċċess.

Meta tkellem dwar iż-żieda fil-prezz tal-proprjetà, il-Ministru qal li minkejja dak kollu li jintqal f’dan ir-rigward, skont l-Alert Mechanism tal-Kummissjoni Ewropea, kien hemm għaxar pajjiżi membri tal-Unjoni Ewropea li qabżu it-treshold ta’ sitta fil-mija żieda fil-prezzijiet tagħhom. Malta, bir-rata ta’ 4.8 fil-mija ma kinetx fosthom.

Minkejja dan kollu, il-Gvern permezz tal-budget, ra li tingħata għajnuna fejn teħtieġ. Hawnhekk semma bosta skemi soċjali u tkellem ukoll dwar l-iskema tas-second-time buyers li mistennija tgħin lil dawk l-anzjani li jridu jbiegħu dar kbira u jixtru xi ħaġa iżgħar u bil-kontra, fejn jidħlu koppji żgħażagħ li jixtiequ jkabbru darhom meta tibda tikber il-familja.

Il-Ministru Edward Scicluna ħeġġeġ lill-organizzaturi tal-konferenza biex din id-diskussjoni titkompla fuq bażi regolari.

Thursday 30th November 2017

The €700 million increase in GDP in the first three quarters of this year were distributed in a €200 million increase in compensation of employees, a €350 million increase in business profits, and a €150 million increase in revenue from production and imports taxes.

PRESS RELEASE BY THE MINISTRY FOR FINANCE

Minister for Finance Edward Scicluna said: ‘I am pleased to note that the growth is indeed being enjoyed by all as confirmed by the robust increases in business profits, wages and salaries, and private consumption.’

Malta has once again recorded the highest economic growth in the Euro Area with a real GDP growth rate of 7.2 per cent in the third quarter of this year. This growth rate is nearly thrice the average growth of 2.5 per cent recorded in both the EU28 and the Euro Area. In nominal terms, GDP grew by 9.7 per cent.

The consistently robust growth recorded during the first three quarters of this year was reflected in a €147 million or 4.5 per cent increase in private consumption of households. This, in turn, reflects the dynamic performance in the labour market boasting a consistently record low unemployment rate of 3.5 cent. Government final consumption expenditure remained contained with a marginal increase of €7 million or 0.6 per cent.

During the first nine months of 2017, economic growth remained broad-based as the increase in the gross value added for all sectors reached €562 million. This was reflected in double digit growth rates by the professional, scientific and technical activities and administrative and support services and the construction sector. Other notable private sector increases were registered in the arts, entertainment and recreation sector, and the information and the communication sector, as well as the wholesale and retail trade, transportation and storage, and the accommodation and food services sector. Significant growth in gross value added was also recorded in the manufacturing sector.

Wednesday 6th December 2017

Pajjiżi deskritti bit-terminu ta’ tax haven ilhom fuq l-aġenda tal-opinjoni pubblika, mhux biss lokali, għal tul ta’ żmien, imma kultant b’aktar enfasi minn drabi oħrajn.

Aktar kmieni din il-ġimgħa pparteċipajt  f’laqgħa tal-Kunsill għall-Affarijiet Ekonomiċi u Finanzjarji (ECOFIN) tal-Kunsill tal-Unjoni Ewropea li saret fi Brussell. L-aġenda, pjuttost twila, kienet tinkludi l-approvazzjoni ta’ lista ta’ pajjiżi biex ikunu black listed, jingħataw timbru iswed, jissemmew fil-ħażin minħabba l-kwistjoni ta’ nuqqas ta’ koperazzjoni ma’ istituzzjonijiet internazzjonali fejn tidħol it-taxxa. Huma dawn biss li jixirqilhom jissejħu tax haven. Ilna nisimgħu lil min jipprova jittimbra lil dak u lill-ieħor bħala tax haven. Ippruvaw, b’mod malizzjuż li jagħmel ħsara lil xi pajjiż jew ieħor. U għadhom jippruvaw jagħmlu hekk anke lil pajjiżna.

Fi ħdan l-Unjoni Ewropea, fejn għandna liġijiet speċifiċi, ma jistax ikun hemm pajjiżi tax haven għax dan minnu nnifsu jkun kontradittorju. Kif jista’ pajjiż li hu membru tal-Unjoni Ewropea jgħidulu li ma jridx jikkopera? Jekk ikun hemm xi pajjiż membru tal-Unjoni Ewropea jikser il-liġi joħroġ minnufih infringement. Jekk jirriżulta li hemm xi prattiċi li fl-Unjoni Ewropea kollha mhumiex tajbin allura jkun fir-responsabbiltà tal-Kummissjoni Ewropea li tressaq għall-approvazzjoni abbozzi ta’ liġijiet biex la darba jkunu approvati allura jsiru direttiva.

Filfatt saru żewġ direttivi, Anti-Tax Avoidance Directive 1 u Directive 2. L-għan ta’ dawn id-direttivi huwa biex ikunu skoraġġiti u jitnaqqsu prattiċi mhux mixtieqin. Malta, flimkien mas-27 pajjiż membru ieħor tal-Unjoni Ewropea, approvat dawn id-direttivi.

Ma jfissirx li l-implimentazzjoni ta’ dawn id-direttivi tkun waħda insrtantanja. Minn issa għal issa. L-implimentazzjoni tieħu ż-żmien, filfatt hemm terminu ta’ sentejn biex issir l-implimentazzjoni tagħhom. U dan mhux b’kapriċċ. Il-kumpaniji konċernati jkunu jridu jafu bil-quddiem liema affarijiet ikunu jridu jinbidlu f’dik li hija taxxa u allura, minħabba l-investiment involut, se nkunu qegħdin nagħtu żmien biżżejjed biex dan isir.

Madankollu wieħed għandu jżomm f’moħħu li fl-ECOFIN konna qegħdin nitkellmu mhux dwar il-pajjiżi membri tal-Unjoni Ewropea imma dwar pajjiżi li mhumiex membri u allura mhumiex marbutin bid-direttivi tal-Unjoni Ewropea. Dan ifisser li filwaqt li l-Unjoni Ewropea qegħda tissikka biex kumpaniji ma jibqgħux jeżerċitaw prattiċi li bihom jevadu t-taxxa, dawn l-istess kumpaniji jistgħu jitilqu mill-pajjiżi membri tal-Unjoni Ewropea u jmorru f’pajjiżi oħrajn.

Fi ftit kliem dan ikun ifisser li l-Unjoni Ewropea titlef mill-kompetittività tagħha. Biex dan ma jsirx, l-Unjoni Ewropea se tagħmel dik li tissejjaħ black list, li jfisser li l-Unjoni Ewropea se tesponi min huma dawn il-pajjiżi, se tagħmel dak li bl-Ingliż jissejjaħ name and shame. Bil-Malti ngħidu se “tkun qed tavvelihom”.

Dan ma jsirx b’kapriċċ u jsir wara skrutinju rigoruż minn sotto kumitat tal-ECOFIN imsejjaħ Code of Conduct, iffurmat minn speċjalisti fit-tħaddim tat-taxxi u li b’mod oġġettiv raw x’inhuma l-kriterji li abbażi tagħhom għandhom ikunu identifikati dawn il-pajjiżi. Hemm numru ta’ pajjiżi li diġà tpoġġew fuq din il-lista. Pajjiżi li ma jiskambjawx informazzjoni dwar tax payers. Pajjiżi li għandhom is-segretezza jew li mhumiex membri tal-OECD fil-Global Forum biex jaraw x’riformi hemm bżonn f’pajjiżhom. Fi ftit kliem pajjiżi b’nuqqas ta’ koperazzjoni ma’ istituzzjonijiet internazzjonali fejn tidħol it-taxxa.

Hemm pajjiżi oħrajn li wkoll kienu se jitpoġġew fuq din il-Lista s-Sewda imma wara li indirizzaw lill-Kunsill u wegħdu li fi żmien speċifikat, li jvarja minn sena għal sentejn, se jkunu qegħdin jikkonformaw lilhom infushom ma’ dak stabbilit mill-Unjoni Ewropea allura se jingħataw aktar nifs. Sadattant flok fuq il-Lista s-Sewda se jkunu qegħdin jitpoġġew fuq lista oħra, il-Lista l-Griża. Fost dawn il-pajjiżi hemm il-Marokk u t-Tuneżija.

Huwa fl-interess tal-pajjiżi membri tal-Unjoni Ewropea li dan isir. U huwa loġiku li jsir. Għax ma jkunx ġust li waqt li l-pajjiżi membri tal-Unjoni Ewropea, inkluż pajjiżna, qegħdin naraw kif nistgħu inkomplu ngħollu l-livell ta’ skambjar ta’ informazzjoni biex tkun kumbattuta l-evażjoni tat-taxxa, inkunu qegħdin nitilfu mill-kompetittività tagħna għax ħaddieħor ma jkunx konformi mar-regoli tagħna.

Jista’ jkun li kien hawn min qed jistenna li pajjiżna jissemma bħala li tpoġġa fuq xi waħda miż-żewġ listi li semmejt, primarjament fuq il-Lista s-Sewda. Malta la tpoġġiet fuq il-Lista s-Sewda u lanqas fuq il-Lista l-Griża.

Min stenna hekk ra bużżieqa oħra tinfaqa’ f’wiċċu.

Malta, bħala membru tal-Unjoni Ewropea, hija konformi ma’ dak mitlub u mistenni minnha.

Diskussjoni informali bejn tliet Ministri għall-Finanzi flimkien mal-Ministru għall-Finanzi tal-Latvja Dana Reizniece Ozola u l-Ministru għall-Finanzi Ċiprijott Charis Georgiades.

Il-Ġimgħa 8 ta’ Diċembru 2017

“African countries have reasons to be moderately optimistic with regard to bridging the huge existing financing gap, since both globally and for us Europeans the financial crisis and its associated austerity is behind us.”

PRESS RELEASE BY THE MINISTRY FOR FINANCE

“Various initiatives by existing and newly set-up international development banks including the European Investment Bank, the EBRD, the AIIB and the World Bank are showing greater enthusiasm in investment projects in Africa. So is the G20 ‘Compact with Africa’ initiative driven by the German Presidency. But African themselves can do more in channelling their savings in home grown start-ups and back young entrepreneurs. They need to put more emphasis on the workings of the capital markets.”

Minister for Finance Edward Scicluna was one of the leading panel speakers during a plenary session on ‘Bridging Africa’s Financing Gap’ as part of the annual Atlantic Dialogues held in Marrakech, 13 to 15 December, 2017.

This was the sixth edition of The Atlantic Dialogues, a high-level conference that has become a tradition since its launch in 2012 by its founding partners the German Marshall Fund of the United States and OCP Policy Center in Morocco.

This annual conference convenes influential public and private sector leaders from around the Atlantic basin for open, informal discussion on cross-regional issues. The event encourages a lively, interactive and informal exchange of views between young professionals and today’s leaders. This year’s theme was ‘Africa in the Atlantic: Time for Action’.

Thursday 14th December 2017

L-aħħar ċifri maħruġa mill-Eurostat juru li f’Malta, fi żmien sentejn, ir-rata ta’ nies li huma kkunsidrati li jgħixu f’faqar sinifikanti għax huma mċaħħdin minn affarijiet materjali u soċjali, naqset bin-nofs, minn 22.9 fil-mija fl-2014 għal 10.5 fil-mija fl-2016.

Dan it-tnaqqis sinifikanti rrifletta tnaqqis sostanzjali kemm fir-rata ta’ nisa li huma mċaħħdin mill-affarijiet materjali kif ukoll tal-irġiel.

“Dan it-tnaqqis fil-faqar f’Malta huwa kollu mertu ta’ numru ta’ budgets suċċessivi li kienu mmirati mhux biss li jżidu l-ġid imma li jqassmuh b’mod li jitnaqqas il-faqar. Ħdimna b’dan il-mod għax kuntrarjament għal dak li kien isir qabel, aħna rrikonoxxejna l-problema tal-faqar u attakkajniha bil-qawwi permezz ta’ numru ta’ miżuri f’budget wara l-ieħor”, sostna l-Ministru għall-Finanzi Edward Scicluna.

STQARRIJA MILL-MINISTERU GĦALL-FINANZI

Il-Ministru Scicluna żied jgħid li l-ewwel tliet budgets tal-Gvern indirizzaw l-erba’ kawżi ewlenin li potenzjalment iwasslu bniedem fir-riskju ta’ faqar: nuqqas ta’ xogħol, dħul baxx, anzjanità u diżabbiltà, jew mard serju.

Dan sar permezz ta’ diversi miżuri, fosthom it-tnaqqis fit-taxxi, l-introduzzjoni ta’ ċentri ta’ childcare b’xejn, it-tapering ta’ benefiċċji u l-in-work benefit li wasslu biex iktar nies, partikolarment nisa, ma jibqgħux dipendenti fuq il-benefiċċji soċjali imma joħorġu jaħdmu, iż-żieda fil-paga minima, id-diversi żidiet fil-pensjonijiet u l-qtugħ ta’ taxxa fuqhom, kif ukoll iż-żidiet fil-benefiċċji għal persuni b’diżabbiltà u biż-żieda fil-formolarju ta’ mediċini b’xejn.

“Ninsab kunfidenti li ċ-ċifri fejn jirrigwarda faqar u riskju tiegħu se jkunu aktar baxxi għal din is-sena u s-sena dieħla hekk kif il-budgets għas-sena li waslet biex tgħaddi u l-miżuri fil-budget għas-sena 2018 komplew u se jkomplu jassiguraw li l-ġid li qed jinħoloq se jkompli jasal għand kulħadd”, temm jgħid il-Ministru Scicluna.

Thursday 14th December 2017

Ma naħsibx li kien hemm xi żmien daqs illum li istituzzjonijiet ta’ importanza kbira f’pajjiżna kienu attakkati bil-mod feroċi u qawwi li qegħdin ikunu attakkati bih. Attakki mhux biss fil-midja lokali u barranija imma anke, sfortunatament f’postijiet bħalma huwa l-Parlament Ewropew.

Meta ngħid istituzzjonijiet ta’ importanza kbira f’pajjiżna inkun qed infisser awtoritajiet finanzjarji bħalma huwa l-Bank Ċentrali, l-MFSA u l-FIAU. Ma’ dawn hemm istituzzjonijiet li mhumiex finanzjarji bħalma huwa l-Uffiċċju tal-Avukat Ġenerali, il-Pulizija u oħrajn.

Għażilt li din il-ġimgħa nikteb fuq dan is-suġġett għax ninsab konvint li l-qarrejja jafu kemm-il akkuża saret li dawn l-istituzzjonijiet qiegħed ikollhom ħafna indħil. Anke jekk sadanittant min jagħmel dawn l-akkużi jkun hu innifsu li qiegħed b’xi mod jindaħal lil dawn l-istituzzjonijiet fil-qadi ta’ dmirijiethom.

Dwar dan nitkellem aktar ‘il isfel. Imma qabel xejn irrid nagħti ftit sfond dwar istituzzjonijiet bħal dawk li qiegħed nitratta u li semmejt aktar ‘il fuq.

Dawn l-istituzzjonijiet huma dawk l-awtoritajiet li jmexxu r-regolamenti li jirrigwardaw l-liġijiet tal-pajjiż. Saru istituzzjonijiet għax huma maqlugħin minn dipartimenti tal-Gvern u minn Ministeri, b’iktar indipendenza u awtonomija. Huma awtoritajiet iffurmati minn persuni bi kwalifiċi, b’esperjenza bi speċjalizzazzjonijiet. B’mod irqum iridu jaraw kif ir-regolamenti jiġu rispettati għax qegħdin responsabbli għal tmexxija t’entitajiet bħalma huma banek, kumpaniji ta’ assikurazzjoni, kumpaniji tas-servizzi finanzjarji, u tal-egameing.

Gerrem illum, gerrem għada…….l-agħar ħaġa li tista’ ssir hija li tipprova tkisser ir-reputazzjoni tal-istituzzjonijiet ta’ pajjiżek

Il-liġi toħloq mod kif dawn l-istituzzjonijiet, l-awtoritajiet, jingħataw l-indipendenza tagħhom. Isir hekk mill-bidunett peress li huma entitajiet għal rashom u mhux entitajiet ta’ xi Ministru. Anke jekk kultant ikun il-Prim Ministru jew il-Ministru konċernat  li jappuntahom, iżda ħafna drabi l-ħatra taċ-Chairman tal-istituzzjoni isir b’konsultazzjoni mal-Oppożizzjoni biex b’hekk ikun hemm ċertu kunsens miż-żewġ naħat tal-Kamra.

Imma l-aktar mod li jassigura indipendenza lil dawn l-istituzzjonijiet huwa li wara li l-Ministru jappuntahom ma jkunx jista’ jneħħihom qabel jgħaddi t-terminu kollu tal-ħatra. Tkun tista’ tintalab riżenja għal raġuni ta’ saħħa jew xiħaġa li tant tkun goffa li awtomatikament il-Ministru jkollu d-dritt li jitlob ir-riżenja.

Dan iwassalni għall-punt dwar l-akkużi ta’ indħil fit-tmexxija ta’ dawn l-istituzzjonijiet. Indħil m’għandux ikun hemm. Xejn iżjed u xejn inqas. Imma wieħed irid ukoll jikkwalifika x’ifisser INDĦIL. Indħil ma jfissirx biss li wieħed jagħmel kuntatt dirett ma’ xiħadd fit-tmexxija ta’ dawn l-istituzzjonijiet.

Fl-opinjoni tiegħi huwa wkoll indħil jekk persuna ta’ ċerta importanza kemm min-naħa tal-Gvern kif ukoll min-naħa tal-Oppożizzjoni tagħmel xi stqarrija qawwija fuq xi waħda minn dawn l-entitajiet. Ħaġa bħal din tkun indħil awtomatiku. Jekk tgħid li tali entità għandha tagħmel ġudizzju b’mod u mhux b’ieħor ukoll tkun qed tindaħal avolja ma tkunx għamilt kuntatt dirett maċ-Chairman responsabbli. Indħil ukoll ikun meta tara xi rapport f’xi ġurnal b’tipi grassi dwar x’għandu jsir u m’għandux isir minn dik l-Awtorità.

Għalhekk huwa importanti li t-tmexxija ta’ dawn l-istituzzjonijiet tkun iffurmata minn nies ta’ maturità kbira li tgħinhom biex ma jkunux influwenzati la minn attakki u lanqas minn pariri.

Għalhekk huwa inkongruwenti ħafna li l-Prim Ministru jew xi Ministru jintalbu jindaħlu f’dawn l-istituzzjonijiet għax xiħadd jidhirlu, jew ikollu suspett, li x-xogħol ma jkunx qed isir sewwa.

Mela tajjeb, għandna l-liġijiet maħsubin biex jipproteġu l-awtonomija u l-indipendenza tal-istituzzjonijiet imbagħad tmur kontra dan il-prinċipju billi titlob lill-Ministru jindaħal għax xiħadd qal li hemm suspett li t-tali istituzzjoni mhix miexja sewwa! Il-liġi hija ċara,  meta wieħed jiġi biex jirriappuntahom għandu jittieħed inkonsiderazzjoni kif ikunu mexxew dawn l-istituzzjonijiet.

Filfatt il-Gvern qed jipproponi li anke ċ-Chairman ta’ dawn l-istituzzjonijiet għandu jkun sottomess għall-iskrutinju tal-Parlament, skrutinju li jassigura aktar għarfien tar-responsabbiltà li ġġorr magħha l-kariga inkwistjoni. Hekk ilu jsir fil-Parlament Ewropew u hekk se nibdew nagħmlu f’pajjiżna.

Ma jfissirx li dawn l-istituzzjonijiet huma, jew se jkunu, perfetti u li ma jkun jonqoshom xejn. Ħafna drabi nirrealizzaw li pajjiżna, li għadu qiegħed jiżviluppa, huwa nieqes minn ċerti riżorsi u ma jkun qed isir xejn ħażin jekk tintalab l-għajnuna esperta, jekk hemm bżonn anke barranija.

L-agħar ħaġa li tista’ ssir hija li tattakka dawn l-istituzzjonijiet, tipprova tkissrilhom ir-reputazzjoni tagħhom u tipprova tneżżagħhom mill-awtorità u r-rispett li jkunu jgawdu fil-pajjiż. Għax meta tkun qed tagħmel hekk ma tkunx qed tattakka persuna imma tkun qed tattakka l-fondazzjoni tal-liġi, il-law and order. Tkun qed tgerrem u tkisser il-pedamenti li fuqhom huma mibnijin il-liġijiet tal-pajjiż.

Nittama biss li qabel naslu biex nattakkaw dawn l-istituzzjonijiet wieħed jaħseb u jirrifletti. Huma istituzzjonijiet li domna s-snin biex bnejnihom. Li għandhom nies kapaċi, li jekk jitħallew jaħdmu b’mod trankwil, bla indħil, kapaċi jaslu biex jagħmlu xogħol tajjeb. Indħil bla bżonn żgur li ma jkunx qed jgħin biex ikollna l-law and order li tant qegħdin nisimgħu dwarha.

Nittama li permezz ta’ dawn il-ħsibijiet  il-qarrej jista’ jirrifletti aktar, u jasal għal ġudizzju, dwar din il-kontroversja li twassal biss biex toħloq konfużjoni u mhux titfa’ dawl fuq il-problema.

Il-Ġimgħa 15 ta’ Diċembru 2017

Member of the European Courts of Auditors Leo Brincat visited Minister for Finance Edward Scicluna. The meeting was held at the Ministry for Finance where Mr Brincat presented Minister Scicluna with a copy of the Annual Report of the Court of Auditors concerning the budget implementation for financial year 2016. The report includes reactions from various institutions.

PRESS RELEASE BY THE MINISTRY FOR FINANCE

Leo Brincat was accompanied by Head of Cabinet Neil Kerr, Attaché Annette Farrugia and Assistant in the Private Office Alison Gauci. Minister Scicluna was accompanied by Chief of Staff Paul Debattista.

Tuesday 19th December 2017

Malta has enacted legislation to fully transpose the Fourth Anti-Money Laundering Directive. This directive has been transposed into Maltese law by virtue of amendments to the Prevention of Money Laundering Act, the enactment of new regulations under said act, and through the publication of various regulations intended to set up beneficial ownership registers for companies, trusts, associations, foundations and other legal entities.

PRESS RELEASE BY THE MINISTRY FOR FINANCE

The Fourth Anti-Money Laundering Directive revises and improves upon the Third Money Laundering Directive and incorporates the latest Financial Action Task Force Recommendations in the field of anti-money laundering and counter-terrorist financing.

These legislative enactments will further strengthen the Maltese legal regime for combating money laundering and funding of terrorism through a number of concrete measures.

The Prevention of Money Laundering Act will now provide for the setting up of a National Coordinating Committee composed of: the Permanent Secretary of the Ministry for Finance, the Permanent Secretary of the Ministry for Home Affairs and National Security, the Permanent Secretary of the  Ministry For Justice, Culture and Local Government, the Governor of the Central Bank of Malta, the Commissioner for  Revenue, the Chairman of the Malta Financial Services Authority, the Chairperson of the Malta Gaming Authority, the Commissioner of Police, the Attorney General, the Chairman of the  FIAU and the Chairperson of the Asset Recovery Bureau. The Chairperson of the committee shall be the Permanent Secretary of the Ministry for Finance.

This committee will be coordinating the development of a national strategy to combat money laundering and the funding of terrorism. The act continues to enhance the Financial Intelligence Analysis Unit’s role in the fight against money laundering and the funding of terrorism, especially when it comes to cooperating and exchanging information with international counterparts and local authorities. Furthermore, it strengthens the FIAU’s abilities to supervise and sanction breaches of AML/CFT preventative measures.

Another distinctive characteristic of this new set of rules is the greater emphasis placed on the risk-based approach to the implementation of preventative measures by financial institutions, gaming companies, and other operators and professionals. This will provide a greater degree of flexibility for institutions and operators in a bid to ensure that the implementation of preventative measures is more effective, and that it is focused on areas that present higher risks of money laundering and funding of terrorism. This will result in a more efficient deployment of resources.

Regulations issued under the Companies Act, the Trusts and Trustees Act and the Civil Code will introduce stricter transparency requirements on companies, trusts, and other legal entities and their ultimate beneficial owners. The Malta Financial Services Authority will subsequently be keeping a register of beneficial owners of companies and trusts which will be accessible to competent authorities, financial institutions and other operators when carrying out customer due diligence measures, as well as to other persons who are able to demonstrate a legitimate interest in accessing such information.

Minister For Finance Edward Scicluna stated that “whilst the Fourth Anti-Money Laundering Directive goes a long way to address current needs, we are pleased to note that the Fifth Anti-Money Laundering Directive has obtained the needed agreement of the Parliament and the Council and now, member states will  be given an eighteen month period to transpose it.”

Tuesday 19th December 2017

The surplus in the consolidated fund balance rose to €85 million in the first eleven months of this year. According to the latest NSO release, this represents an improvement of €145 million, turning a deficit of €60 million in the period January to November of last year to a surplus this year.

PRESS RELEASE BY THE MINISTRY FOR FINANCE

Minister for Finance Edward Scicluna comments, “We have continued to register consistent improvements in the consolidated fund balance over an already successful year while our fiscal performance remains better than projections. Thus, I am confident that we will attain a surplus in accrual terms for the second consecutive year”.

The consistent improvement in the consolidated fund balance was the result of an increase in revenue of €421 million or 12.8 per cent which outweighed the contained increase in total expenditure of €277 million or 8.3 per cent. The contained increase in government expenditure came at no expense to investment since capital expenditure still increased during the same period.

Minister for Finance Edward Scicluna is pleased to note that all tax revenue categories continued to record remarkable increases with the highest increases recorded in revenue from income tax and VAT. The increase in both the direct and indirect tax revenues reflect the strong growth in jobs, take-home pay, and private consumption.

These developments continued to have a positive impact on debt developments as gross debt decreased by €123 million in November of this year, over the same month last year. As a result, the interest component of public debt servicing costs declined to €197 million, down from €206 million recorded last year.

22/12/2017