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Malta Fact Check

"The government aims for a budget surplus by 2029/2030."

Clyde Caruana Minister for Finance · PL
Our verdict
TRUE

Caruana’s stated trajectory: 1.6% (2026), 1.0% (2027), 0.4% (2028), surplus by 2029–30.

Full analysis

The claim in context

Finance Minister Clyde Caruana announced on 22 April 2026 that the government is now targeting a balanced budget — or possibly a small surplus — by 2029 or 2030. The trajectory was published in Budget 2026 and confirmed in subsequent press briefings.

The published deficit-reduction trajectory

Government deficit-reduction plan, % of GDP
2025 (actual)
2.2%
2026 (target)
1.6%
2027 (target)
1.0%
2028 (target)
0.4%
2029–30 (target)
~0%
Source: Budget 2026 fiscal trajectory.

The verdict here reflects the accuracy of reporting an official aim, not a forecast that it will materialise. Macro shocks, political shifts, or revenue-side surprises could derail the trajectory; nothing about a stated target is guaranteed to hold over a five-year horizon.

Bottom line

Caruana's claim accurately reports the government's published target. Verdict: True — with the standing caveat that targets are not predictions.

Sources