Issue link: https://maltatoday.uberflip.com/i/1530133
3 maltatoday | WEDNESDAY • 4 DECEMBER 2024 NEWS KURT SANSONE ksansone@mediatoday.com.mt CONTINUED FROM PAGE 1 In the case of Luxembourg, Malta and Portugal, the blame is placed squarely on energy emergency support measures that are not set to be phased out by winter 2024-2025, al- though their net expenditure growth is expected to be within regulations. "Luxembourg, Malta and Por- tugal are the only euro-area Member States that received a country-specific recommenda- tion to phase out the emergen- cy energy support measures by winter 2024/25," the Commis- sion's report said. "For all three, the Commis- sion concludes that they do not phase out these measures. As a result, the overall conclusion in the Draft Budgetary Plan opinion is adjusted from 'in line' (i.e., the assessment based on net expenditure growth) to 'not fully in line'." Despite this, the Commission said that Malta's fiscal plan still met EU requirements and "set out a credible fiscal path to ensure fiscal sustainability over the medium term". An excessive deficit proce- dure was opened against Mal- ta in July this year because the country's deficit remains high- er than the 3% target. The Commission had also already recommended that Malta should "wind down" its emergency support measures by winter. Malta's Budget plan considered 'not fully in line' with EU advice FESTIVALS Malta has issued a ten- der worth almost €4 million for the excavation of the Marsa site where an arts and cultural hub will be built. The site previously housed the government garage and is situated just off Aldo Moro Road and one side of it fronts the public abattoir. In May, the Planning Authority gave its go-ahead for the devel- opment, which is set to include a 616-seat cinema, a 380-seat in- door theatre, a 914-seat outdoor theatre and rehearsal studios for rock bands and dance troupes. It will also include carnival float and costume workshops. Festivals Malta is inviting com- panies to submit a bid for the demolition of existing buildings on the site, the excavation of the terrain and piling works in prepa- ration for the construction of the arts and culture hub. The works should be ready in 12 months from when the com- mencement notice is issued. The estimated price tag for this tender is €3.9 million although the final price can vary. The contract will be awarded to the tenderer submitting the cheapest priced offer satisfying the administrative and technical criteria. Prospective bidders have until 31 January 2025 to submit their bids. Festivals Malta issues excavation tender for Marsa cultural hub Festivals Malta issues €4m tender for demolition and excavation works at Marsa site that will house a cultural hub Some of the buildings that will need to be demolished to make way for a new arts and culture hub in Marsa "Luxembourg, Malta and Portugal are the only euro- area Member States that received a country-specific recommendation to phase out the emergency energ y support measures by winter 2024/25."