BUDGET MEASURES IMPLEMENTATION ACT

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 .

The short title of this Act is the Budget Measures

Implementation Act.

The provisions of this Part shall be deemed to have come

into force on the 1st January, 2025.

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.

(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).

(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.

Any money borrowed under the authority of this Part shall

be appropriated and applied for the purpose of

(a)

meeting excess expenditure over

revenue

incurred in the Consolidated Fund for the year 2025;

(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.