VZCZCXRO8657
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 
 
¶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