It might seem somewhat obscene to speak about Budget Day in the heat of mid-summer but indeed preparatory work on the coming Budget has already begun.
This time, as the prime minister has said, Budget Day will happen earlier than the usual November date so that Malta can fit into the EU's complicated timetable. And before you know it, summer is over and Budget Day is around the corner.
As the country enjoys its annual summer hiatus, work must be done in preparation for Budget Day and for what look like some important gear changes in the national economy.
In the past years, our economy has done well for itself, especially these past few years that have seen the country exiting from the Excessive Deficit Procedure, resume its growth path and now even being acknowledged as moving in the right direction by significant rating agencies.
But as Malta has repeatedly been told by these same rating agencies as well as by the Commission in its regular assessments of the Maltese economy, there are some specific issues that Malta must tackle and on whose outcome depends the future stability and growth of our economy.
Principal among these is the pensions issue. One cannot say that this is an issue that has been repeatedly kicked down the road. Much preparatory work has been carried out and consultations held. Now comes the difficult bit - implementation.
We know figures that show that Malta has an ageing population and we can look at future population trends over the coming decades. The numbers themselves are awe-inspiring: today's young generation will find itself paying for an ever-growing burden of retirees, at least until the present trend runs out.
Similarly, although there seems no indication this will be tackled in the coming Budget, or even the one after that, sooner or later one must face up to the increasing healthcare costs of the country. The blanket free healthcare for all has to cope with an ageing population, with increased (and costly) therapies that are continually being developed and with an overall heightened sense of expectation all around.
Lastly, the country faces a continuing conundrum as regards the future of the national airline, although that may not be a specifically Budget issue. Nevertheless, what happens to Air Malta is very relevant to the country as a whole.
These, and maybe other issues will come to the fore in the coming weeks as the country and its leaders gird towards the next phase of our national economic development.