Updated at 3:25pm with PN reaction
Malta is set to face an excessive deficit procedure after the European Commission recommended action today against seven EU member states.
The last time Malta faced an excessive deficit procedure was in 2012 when a Nationalist government was forced to make spending cuts to the tune of 0.59% of GDP to meet deficit projections.
EU member states are required to keep their annual deficit below 3% of GDP and a debt-to-GDP ratio of 60% or less.
Following an assessment of 12 member states to determine compliance with the deficit criterion, the European…