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ASCS Budget Review

Coming up to this year’s budget, many people were very intrigued to see what issues were to be tackled and hopefully improved upon and many had quite high hopes. The main topic of this budget was obviously going to be Covid-19, as the pandemic has left a noticeable mark on Malta. It was made clear that the Covid-19 wage supplements and the following schemes will be retained till the end of March 2021:

  • tax deferrals

  • loan repayment moratoria

  • government guarantees of business bank loans

  • interest subsidy scheme

It was also stated that Malta’s GDP is expected to reduce by 7.4% in 2020. The document follows up to say that the Government is predicting the economy to recover in 2021 and grow by 5% in real terms and 6.4% in nominal terms. Unemployment is predicted to stand at 4% in 2021 with a 2.3% increase in jobs.

Mentions in the budget directly impacting Maltese citizens include:

  • Student stipends will increase pro-rata

  • Free internet to all students who continue post-secondary studies

  • Accommodation for Gozitan Students within Villa Lauri in Birkirkara

  • Matsec O / Intermediate / A level exams will take place at the same venue that students attend school in

  • New buildings for both the Institute for Physical Education & Sports, as well as the School of Performing Arts

  • Making the 4th ferry between Malta and Gozo permanent

  • An issue of another round of the €100 Government vouchers