Deficit will be at 2.5% of GDP by December – Fenech

Finance minister says tax collection efforts will bolster coffers.

Tonio Fenech
Tonio Fenech

Finance minister Tonio Fenech said today on TVM breakfast show TVAM that the government will be keeping its deficit below 2.5% of gross domestic product by the end of 2012.

The 3% threshold is mandated by the Maastricht criteria for all eurozone countries if they are not to be placed under excessive deficit procedures.

Tax collection efforts are believed will bolster coffers by the end of the year, Fenech said.

Fenech also said the government wants to reduce the deficit to 1.7% by end-2013.

In 2012, the deficit was down to 2.7% but projections for 2.3% by end-2012 had to be revised upwards again.

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And what about the hidden debts and other payments transferred to next year?
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Pull my finger Tonio I am full of gas you have been pumping for the last 4 years regarding the deficit. I thought that your aim was a surplus which should have happened in 2010. Oh yes there was the world recession which did not allow you to. You can project a 1% deficit for all we care because by next December your sorry S would be in the opposition benches.
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Joseph MELI
He has got every economic forcast/prediction/projection -call it what you may -totally wrong so far-why should this one be any different?