News | Wednesday, 25 November 2009

MCESD to be consulted on Budget implementation

Finance Minister Tonio Fenech announced yesterday that government has accepted a request to keep the Malta Council for Economic and Social Development (MCESD) updated on the progress made during the year on the implementation of the Budget measures.
Speaking during a presentation of the 2009 progress report about the implementation of the Malta National Reform Programme 2008-2010, Minister Tonio Fenech said that government was satisfied with the progress achieved, and that it was able to contain job losses and create new jobs despite the negative results in tourism, manufacturing and trade.
Tonio Fenech stressed that jobs were the “definite focus”of next year’s Budget, while referring to the Lisbon Strategy for Growth and Jobs - in terms of which the Malta reform programme was drawn up – “may have to be revised since the global economic downturn meant that Europe would not be able to attain the targets which the strategy established.”
While stressing that economic recovery may be reached by mid next year, European economists were indicating a jobless recovery, “but this is something the Maltese government disagrees with since it was committed to job creation,” he said.
Tonio Fenech also spoke about other aspects of the reform programme that included the creation of a more business-friendly regulatory environment, the public transport reform, research and development, the Mepa reform and the provision of a secure, cost effective power supply.


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25 November 2009


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