Malta’s budget for 2022, which was presented on October 11th by the new Finance Minister Clyde Caruana, is set out in the shadows of the Covid-19 pandemic and its effect on the local and worldwide economy.

The revised estimates for 2021 show a marked increase in the deficit from the budgeted €756 million to €1.5 billion, 11.1% of GDP, and Public Debt reaching 61.3% of GDP as a result of the pandemic.

For 2022, the economy is expected to grow by around 4.8% in real terms