Recovery plan: Government to request €60m ‘lost’ as a result of economic growth

The government will be requesting that €60 million Malta “lost” from the EU recovery package as a result of its economic growth will still be handed over to the country, Parliamentary Secretary for EU Funds Chris Bonett said.

The €60 million are to be deducted because the country has achieved positive economic growth during the past year. Following an economic assessment by the European Commission, the amount of funds allocated to Malta as part of the recovery plan following the Covid-19 pandemic were to be revised downwards.

The government, he said, will seek to get back those €60 million, which formed part of the €316 million Malta was set to receive.

Bonett said that Malta carried out 17 reform programmes and is set to complete others by the end of the year.

Malta’s economy jumped 7.6% in the first quarter of this year, and this pushed the EU to revise its funding.