Tonio Fenech to run for PN deputy leader
Finance minister Tonio Fenech will be running for PN deputy leader, alongside MEP Simon Busuttil.
Finance minister Tonio Fenech has informed the Nationalist Party that he will be contesting the PN deputy leadership race.
Fenech joins MEP Simon Busuttil, who so far are the only two who have expressed interest, while tourism minister Mario de Marco and justice minister Chris Said have not made their intentions known yet.
Tonio Fenech's announcement and decision to contest the PN deputy leadership race was made in the wake of the European Commission's announcement on Tuesday that it was proposing a stop to Malta's excessive deficit procedure.
The EU's economic affairs Commissioner Olli Rehn said that he was proposing a stop to the eccessive deficit procedure against Malta, as a result of the publication of the EU's economic projections for 2012-2014.
The Commissioner said that Malta's finances "are improving, its debt is improving, and will continue to improve."
In its autumn forecast [Opens PDF] which captures the state of the economy as government prepares to forge ahead with its budget for 2013, the EC said Malta's impressive rebound in 2010, from the recession in 2009, had lost steam in 2011.
Welcoming the positive autumn forecasts set by the European Commission for Malta, Tonio Fenech confirmed that the budget will be presented on Monday 26 or Wednesday 28 November.
Addressing the press Fenech said that the EC's forecasts were based on the framework which makes up Budget 2013. "This report sends a clear message that government can go ahead with its planned budget with peace of mind," Fenech said, adding that if the forecasts had been different government would have had to change its budget.