A watchdog tasked with assessing the implementation of fiscal and economic policy objectives has urged the Finance Ministry to provide a more detailed account of European Union fund absorption.

In a letter sent on October 8 to Finance Minister Edward Scicluna, the chairman of the Malta Fiscal Advisory Council, John Cassar White, said the information on EU fund absorption provided in the ministry’s half-yearly report “falls short of the precise details being prescribed by the Fiscal Responsibility Act”.
He urged the ministry to provide more detailed information in its future reports.
As part of the assessment of the ministry’s half-yearly report, the advisory council said it was important that the government’s fiscal balance remained in surplus at a time when the economy was experiencing benign macroeconomic conditions.
It drew attention to the fact that, during the first six months of this year, the percentage of the overall budget utilised for capital expenditure was rather low in comparison to the estimate for the full year.
The council said the various departments should make sure that the full set of information about their outstanding creditors was submitted to the Finance…