Chapter 648
In short
This law, called the Budget Measures Implementation Act, is about putting into effect the financial plans for the year 2025 and other related administrative actions.
What it regulates
- The implementation of Budget Measures for the Financial Year 2025.
- The Government of Malta's authority to raise a specific sum of money through loans.
- The terms and conditions for raising these loans.
- How the borrowed money will be used.
Who it concerns
- The Government of Malta.
- The Minister responsible for finance.
Key points
- The law came into force on January 1st, 2025.
- The Government of Malta can raise a loan of up to one billion and five hundred million euro (€1,500,000,000).
- The borrowed money will be used for purposes including meeting excess expenditure in 2025, redeeming debts due in 2025, contributing to sinking funds, and effecting portfolio changes.
- "Revenue" for this law has the same meaning as in the Public Finance Management Act, but does not include proceeds from loans.
Legal text
Legal text
BUDGET MEASURES IMPLEMENTATION CHAPTER 648 BUDGET MEASURES IMPLEMENTATION ACT AN ACT to implement Budget Measures for the Financial Year 2025 and other administrative measures. 1st January, 2025 ACT IX of
- The short title of this Act is the Budget Measures Implementation Act. Short title.
- The provisions of this Part shall be deemed to have come into force on the 1st January,
- Date of coming into force of this Part.
- For the purposes of this Part, "revenue" shall have the same meaning as assigned to it in article 2 of the Public Finance Management Act, but does not include proceeds from loans. Interpretation. 4.
(1)Subject to the provisions of this Act, the Government of Malta may raise, by way of loan, a sum of money not exceeding one billion and five hundred million euro (€1,500,000,000). Authority to raise loan.
(2)For the purpose of raising the aforesaid loan, the Minister responsible for finance is hereby authorised to raise such loans under the provisions of the Government Borrowing and Management of Public Debt Act, on such terms and conditions as the said Minister may approve. 5. Any money borrowed under the authority of this Part shall be appropriated and applied for the purpose of: Scope. (
- a)meeting excess expenditure over incurred in the Consolidated Fund for the year 2025; revenue (
- b)redeeming registered stocks, debt instruments and foreign loan which shall be due for redemption during the year 2025; (
- c)contributing funds in the sinking funds; and (
- d)effecting portfolio changes in relation to amounts raised through Treasury Bills, amounts raised through Government Stocks, and in respect of loans raised outside Malta as and when required in line with Government’s debt management policies.