Finance ministry publishes Auditor General’s report on growth forecasts

The Finance Ministry has released a report by the National Audit Office which assessed the ministry's macroeconomic forecasts on the Maltese economy.

The ministry welcomed the report's conclusion, that it was adopting a correct approach by sticking to the main assumptions of internationally reputable institutions when forecasting during a time of international economic instability.

The report was completed and presented to the government at the beginning of September. This evaluation and assessment document was prepared by the NAO, which was tasked by the Minister for Finance to carry out an evaluation and endorsement of the macroeconomic forecasts for the years 2013 and 2014 underpinning government's fiscal plans.

This interim decision is in line with the government's plan - as specified in the Report on Effective Actions for Deficit Correction published on Monday 7^th October 2013 - to embed the role of an independent fiscal institution within the National Audit Office, itself an independent institution tasked with the auditing of government finances, and is a body established by the Constitution of the Republic of Malta.