Prime Minister Robert Abela has promised a "stronger" Budget than previous ones, saying Monday's financial plan will focus on investment in people and set the direction for Malta's development towards 2035.
Speaking while chairing a joint meeting of the Cabinet and the government parliamentary group at Castille, Abela said the Budget would be presented against a backdrop of geopolitical tensions and significant international challenges.
"Looking at the amount we will be investing in people in Monday's Budget, we can say that we will be presenting the people with a stronger Budget than before," he said, according to a government statement.
Abela said presenting a Budget amid international crises was nothing new, pointing out that all seven Budgets presented since he became Prime Minister had been drawn up against a background of challenges.
He attributed the government's ability to invest in people to Malta's strong economy, which he said was growing at around 4% and on a sustainable footing.
The Prime Minister contrasted Malta's economic stability with the social and economic difficulties affecting other countries, crediting the government's decision to subsidise energy prices for helping to shield households and businesses from external pressures.
He said the government was investing €400 million in energy subsidies this year and another €400 million next year, adding that it would continue supporting families and businesses to preserve stability.
Abela also said Monday's Budget would be different both in style and content.
It will focus on Malta's development up to 2035, one of the two milestones forming part of the government's Malta Vision 2050 strategy. The Budget will assess the country's current position and outline where the government wants Malta to be in the coming years.
The Prime Minister said the Budget speech would be shorter than usual and concentrate on the broad principles guiding the government's direction in the years ahead, rather than going into extensive detail.
Ministers will subsequently provide more detailed explanations of the measures affecting their respective sectors in the days following the Budget.
Abela reiterated that the government would continue protecting the public from external pressures, arguing that Malta's stability was being sustained by the government's policies, the hard work of the population and the contribution of businesses.
"We will keep the people protected. I say with pride that we are offering the stability that nobody else is offering," he said.