Chapter 648 – Budget Measures Implementation Act
What is this act about?
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.
Who it applies to: The Government of Malta; The Minister responsible for finance.
At a glance
- Country
- Malta
- Area of law
- Administrative law
- Articles
- 5
- Source
- legislation.mt
- Text retrieved
- Explanation updated
What does this act regulate?
- 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 does this act apply to?
- The Government of Malta.
- The Minister responsible for finance.
What are the 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.
Administrative law
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 2025.
Art. 1
The short title of this Act is the Budget Measures Implementation Act.
Short title.
Art. 2
The provisions of this Part shall be deemed to have come into force on the 1st January, 2025.
Date of coming into force of this Part.
Art. 3
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.
Art. 4
Authority to raise loan.
Art. 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.