MCESD presents Budget 2024 proposals to Finance Minister

The Malta Council for Economic and Social Development (MCESD) met with Minister for Finance Clyde Caruana on Monday to present its proposals for the upcoming Budget 2024, due to be presented on 30th October.

Its proposals include 80 measures within 14 overarching themes. They reflect a focus on enhancing the efficiency of public sector activities, especially in areas such as governance, industrial relations, and the provision of public goods.

Social partners are calling on Government to increase the allocation of funds to critical areas such as environmental initiatives, transport infrastructure, and measures to bolster business competitiveness.

The MCESD stated that strategic investment in these areas is part of “a forward-looking approach aimed at fortifying Malta and Gozo’s long-term economic resilience.”

MCESD chairman David Xuereb said that the proposals were crafted with “prioritisation that balances short-term needs with long-term stability for sustainable socio-economic development,” describing the process as “meticulous”.

The pre-Budget document was prepared by social partners within the MCESD, including unions, employers, and the civil society and Gozo committees after “having discussed, considered and prioritised all sectorial proposals.”

The official presentation was attended by Minister Caruana and Parliamentary Secretary for Social Dialogue Andy Ellul. The MCESD was represented by Perit Xuereb, deputy chairperson Mark Musù, executive secretary Adriana Chircop and economist Gordon Cordina, who was appointed by the MCESD to direct and compile the proposals.