Central Bank of Malta - Annual Report 2006

According to the Central Bank of Malta's Annual Report 2006, the past year was marked by decisive progress towards the satisfaction of the Maastricht convergence criteria and the objective of an early adoption of the euro.

The process of fiscal consolidation continued to unfold in line with the update of the Convergence Programme 2006 - 2009 and the general government deficit is expected to have fallen to 2.6% of GDP, going below the 3% reference value for the first time in several years

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