Identifier
Created
Classification
Origin
08VALLETTA96
2008-03-07 14:55:00
UNCLASSIFIED
Embassy Valletta
Cable title:
MALTA: FISCAL TRANSPARENCY REPORT
how-toVZCZCXRO8657 PP RUEHAG RUEHAST RUEHDA RUEHDF RUEHFL RUEHIK RUEHKW RUEHLA RUEHLN RUEHLZ RUEHPOD RUEHROV RUEHSR RUEHVK RUEHYG DE RUEHVT #0096 0671455 ZNR UUUUU ZZH P 071455Z MAR 08 FM AMEMBASSY VALLETTA TO RUEHZL/EUROPEAN POLITICAL COLLECTIVE PRIORITY RUEHC/SECSTATE WASHDC PRIORITY 1423
UNCLAS VALLETTA 000096
SIPDIS
SIPDIS
DEPARTMENT FOR EUR/WE,
EEB/IFD/OMA ANDREW SNOW AND RICHARD FIGUEROA
E.O. 12958: N/A
TAGS: EFIN ECON PREL MT
SUBJECT: MALTA: FISCAL TRANSPARENCY REPORT
REF: STATE 016737
UNCLAS VALLETTA 000096
SIPDIS
SIPDIS
DEPARTMENT FOR EUR/WE,
EEB/IFD/OMA ANDREW SNOW AND RICHARD FIGUEROA
E.O. 12958: N/A
TAGS: EFIN ECON PREL MT
SUBJECT: MALTA: FISCAL TRANSPARENCY REPORT
REF: STATE 016737
1. Malta joined the European Union in May 2004 and complies
with all European Union directives on fiscal transparency and
accountability. In January 2008, Malta joined the European
Monetary Union (EMU) and adopted the Euro as its currency.
2. The draft GOM budget documents are available to the public
the day after their presentation to Parliament on the
Ministry of Finance website. Once passed by Parliament and
signed into law, the budget is published in the
Government Gazette and available on the Ministry of Finance
website.
3. Revenues and expenditures are accounted for in the budget
in a comprehensive and accurate manner. The annual financial
plans of all state agencies are included in the budget. The
quality of fiscal statistics is generally reliable and
comprehensive.
4. There are no USG assistance programs targeted at
strengthening Malta's capacity to develop fiscal policies and
support transparency and good performance since Malta acceded
to the EU in 2004. The Government of Malta receives
assistance from the USG under International Military
Education and Training (IMET) and International Narcotics and
Law Enforcement (INL) programs.
5. Malta conducts regular Article IV consultations with the
IMF. The latest round was concluded in August 2007. At that
time, the IMF commended Malta for having achieved substantial
fiscal consolidation and the implementation of
broad-based structural reforms, which were central to Malta's
entry into the EMU.
BORDONARO
SIPDIS
SIPDIS
DEPARTMENT FOR EUR/WE,
EEB/IFD/OMA ANDREW SNOW AND RICHARD FIGUEROA
E.O. 12958: N/A
TAGS: EFIN ECON PREL MT
SUBJECT: MALTA: FISCAL TRANSPARENCY REPORT
REF: STATE 016737
1. Malta joined the European Union in May 2004 and complies
with all European Union directives on fiscal transparency and
accountability. In January 2008, Malta joined the European
Monetary Union (EMU) and adopted the Euro as its currency.
2. The draft GOM budget documents are available to the public
the day after their presentation to Parliament on the
Ministry of Finance website. Once passed by Parliament and
signed into law, the budget is published in the
Government Gazette and available on the Ministry of Finance
website.
3. Revenues and expenditures are accounted for in the budget
in a comprehensive and accurate manner. The annual financial
plans of all state agencies are included in the budget. The
quality of fiscal statistics is generally reliable and
comprehensive.
4. There are no USG assistance programs targeted at
strengthening Malta's capacity to develop fiscal policies and
support transparency and good performance since Malta acceded
to the EU in 2004. The Government of Malta receives
assistance from the USG under International Military
Education and Training (IMET) and International Narcotics and
Law Enforcement (INL) programs.
5. Malta conducts regular Article IV consultations with the
IMF. The latest round was concluded in August 2007. At that
time, the IMF commended Malta for having achieved substantial
fiscal consolidation and the implementation of
broad-based structural reforms, which were central to Malta's
entry into the EMU.
BORDONARO