Malta to spend over 500 mln euros to tackle rising energy costs

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Malta to spend over 500 mln euros to tackle rising energy costs

STORY: Malta to spend over 500 mln euros to tackle rising energy costs DATELINE: Oct. 26, 2022 LENGTH: 00:01:37 LOCATION: Valletta CATEGORY: ECONOMY SHOTLIST: 1. various of Finance Minister Clyde Caruana presenting 2023 budget speech to President Vella in San Anton Palace in Attard 2. various of Finance Minister Clyde Caruana reading out the budget for 2023 in Parliament in Valletta 3. various of press conference in Valletta STORYLINE: Malta plans to spend 508 million euros (501.4 million U.S. dollars) in 2023 to ease the impacts of the rising energy costs, Prime Minister Robert Abela said on Monday. In Malta's 2023 budget plan unveiled by Finance Minister Clyde Caruana on Monday, energy expenditures account for 9.3 percent of the government's recurrent expenditure. Tax cuts would have saved families with two working adults 510 euros (503.4 dollars) a year, Caruana said, while subsidizing energy costs will save them electricity costs and car fuel. Among the measures announced were a living grant of

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                    MALTA-VALLETTA-BUDGET

                    MALTA-VALLETTA-BUDGET

                    (231031) -- VALLETTA, Oct. 31, 2023 (Xinhua) -- Malta's Finance Minister Clyde Caruana unveils Malta's 2024 budget plan in the parliament in Valletta, Malta on Oct. 30, 2023. Malta's Finance Minister Clyde Caruana pledged on Monday to continue subsidizing the prices of electricity and fuels next year. These subsidies, coupled with the support for cereals, grains and animal feed, will add up to 350 million euros (371 million U.S. dollars). (Photo by Jonathan Borg/Xinhua)
                      MALTA-VALLETTA-BUDGET

                      MALTA-VALLETTA-BUDGET

                      (231031) -- VALLETTA, Oct. 31, 2023 (Xinhua) -- Malta's Finance Minister Clyde Caruana arrives at the Parliament building in Valletta, Malta on Oct. 30, 2023. Malta's Finance Minister Clyde Caruana pledged on Monday to continue subsidizing the prices of electricity and fuels next year. These subsidies, coupled with the support for cereals, grains and animal feed, will add up to 350 million euros (371 million U.S. dollars). (Photo by Jonathan Borg/Xinhua)