Economic Policy Department
The Economic Policy Department provides Government with expert advice and assistance in the formulation of economic policy, the management of economic activity and international trade policy with the aim of attaining Government’s overall objectives of economic growth and development, high employment and low inflation and competitiveness on international markets. Within this context, attention is devoted towards the achievement of a stable macroeconomic framework through attaining an appropriate fiscal and economic policy. The Department is responsible for a wide remit of economic policies ranging from structural reforms, pensions, fiscal policy, macroeconomic forecasting, and international trade relations. The Department coordinates discussions and reviews of various aspects of the Maltese economy with international bodies and organisations. Regular meetings are carried out within the European Council and with the European Commission, mostly on trade, structural and fiscal policy issues. The Department actively participates in meetings with representatives from credit rating agencies such as Standard and Poor’s, Moody’s and Fitch. The Department is also an important focal point in the extensive discussions held with representatives from the International Monetary Fund (IMF) who visit Malta for the Article IV consultation. The Department is also involved in work related to the OECD’s European Union (EU) Economy Review and the Economic Review of the Euro Area, which are carried out by the OECD’s Economic and Development Review Committee.
The Economic Policy Department is engaged in the preparation of briefings for the ECOFIN, Eurogroup and the EU Trade Policy Committee meetings as well as for meetings of other Council formations and for the European Council meetings, as requested, according to their division of responsibilities.
The Economic Policy Department carries out research work on various economic, fiscal, trade and financial topics, as requested by the Ministry for Finance and Financial Services or in conjunction with other Ministries, as required. The professional staff of the Department undertake a number of other research initiatives and in 2014 the Department has launched the Economic Policy Department Working Paper Series. In addition, the Department is also publishing on its website a number of research Articles of interest to economic operators and policy makers. These publications are aimed at disseminating knowledge on the Maltese economy, encourage objective discussions of main economic policy issues and provide a platform for the professional staff of the Department to publish their research.
Furthermore, as part of the annual budgetary process, the Department drafts the Economic Survey that is presented annually in Parliament on Budget Day. Information is presented on the domestic and international economic situation as well as on the macroeconomic outlook. In addition, the Department coordinates also the preparation of the Draft Budgetary Plan which is submitted, on an annual basis, to the European authorities by the 15 of October. Furthermore, the Economic Policy Department provides input in the preparation of the Pre-Budget Document.
The Economic Policy Department is represented in the Malta Council for Economic and Social Development (MCESD).
The Department contributes to the Ministerial coordination effort involved in drafting the National Reform Programme (NRP) and monitors such elements of the Country Specific Recommendations under the responsibility of the Ministry for Finance.
Four directorates make up the Economic Policy Department, that is, the Macro Economic Policy Analysis Directorate, the Taxation and Benefits Policy Analysis Directorate, the Financial Policy Analysis Directorate and the International Economic Policy Directorate.
A description of the main remits, duties and areas of responsibilities that fall under each Directorate is presented in the corresponding section present in this website.
Economic Policy Department Working hours
Summer 1st July – 15th September: 7.30am to 2.45pm
Winter 16th September – 30th June: 7.30am to 4.15pm
Please note that break in winter is between 12.30pm and 13.00p.m and during summer between 12.30pm and 12.45pm