Finance Minister Clyde Caruana has confirmed that around €100 million has been slashed from the government’s budget but said details will only be announced later this year. 

“A couple of weeks ago I said that we must make sure we manage to achieve the targets I set this year and I confirm that so far around €100 million in cuts have taken place,” Caruana said at a recent press conference.

“We’re in the process of identifying the savings, which should of course take place in the coming weeks. They will be confirmed when the financial estimates are published along with the Budget speech later this year.”

Costs are being cut in an effort to bring down the national deficit and improve the sustainability of the energy subsidies the government launched in response to the global inflation crisis.

So far, the only cuts to be confirmed relate to the University of Malta’s recurrent budget, which has been slashed by around €1.1 million. The Shift News also reported that Transport Malta will impose cuts by stopping the provision of free milk for hot beverages for its employees.