malta budget report 2002 malta budget 2003 malta budget 2002

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Removal of Exchange Control Restrictions

Aim: To increase the amount Maltese citizens can send or invest abroad in foreign currency; to provide greater flexibility for local trade to operate in foreign exchange.

Measure: Liberalisation of exchange control - removal in stages of the major part of the remaining controls.

• Repeal of Exchange Control Act;

• Proposal of Exchange Transactions Act: provide necessary infrastructure for full liberalisation, give Minister of Finance authority to introduce measures & controls in times that would be critical for the balance of payments. 

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