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EC ‘too naïve’ to believe Malta’s fiscal deficit was a one-off
Senior economist and Labour candidate for the European Parliament (EP) elections Edward Scicluna said that with its assessment of Malta’s Stability Programme for 2009, “once and for all the EU has clarified a point which I felt was being misunderstood by many local economic observers. “This refers to the quick conclusion reached, that while the…
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The ‘big R’ has arrived
The economy went into a recession during the second half of 2008, confirming the widespread feeling that Malta was not going to remain unscathed by the “big R”. Economic growth for the whole of 2008 reached 1.6 per cent, which, although positive, was still two percentage points lower than the previous year and half of…
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Capital projects could re-ignite economy
The capital projects proposed by government could be the key for public finances to recover from the current state which saw the deficit expand by EUR74m in January. Statistics issued last week by the National Statistics Office showed that government debt increased by 117 per cent during January to EUR136.5m, more than double the amount…
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Budget 2009
Never before has such a budget created so much doubts about the true state of our public finances. The same can be said for the loss of credibility in any economic or financial projections supplied by the Government. This creates uncertainty which does irreparable damage to both the private financial and real sectors of the…
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Press Release – Il-Faqar f’Malta
Ix-xibka ta’ lqugh li jipprovdi l-gvern permezz tal-welfare state sabiex persuni u familji zvantaggjati, minhabba mard, nuqqas ta’ xoghol jew xi problemi socjali ohra ma jaqghux fil-faqar ma hix sufficjenti bizzejjed. Dan qalu l-Kandidat Laburista għall-elezzjonijiet tal-Parlament Ewropew il-Professur Edward Scicluna waqt żjara li għamel fid-djar amministrati mill-YMCA. Il-YMCA hija organizzazzjoni non-governattiva li tipprovdi akkomodazzjoni…
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Economists fear forthcoming recession
Asked to comment on the interim forecast statistics issued by the European Commission (EC) on Monday, two economists warned Business Today that the Maltese economy could be facing a recession by the end of the year. Veteran economist Karm Farrugia said we are in danger of falling into a recession “soon if no action is…
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Government urged to inject liquidity in the economy
Economist Edward Scicluna said today that the government needed to ensure that there was liquidity in the country to stave off the consequences of a recession which was gripping many economies. He also insisted that the government needed to have better control on public spending. Speaking at a GRTU national conference, Prof Scicluna said that…
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Budget 2009
The Government is trying to downplay its unprecedented fiscal slippage just in its very first year of its Eurozone membership. This Budget, more than any other past budget, is rightly being analysed for its economic management content, rather than for the one cent tax here and the two cents benefits there traditional review. In this…
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Malta not immune to US recession woes
Edward Scicluna explained that “any US recession would affect the Maltese economy through its global impact, that is, if other countries, especially the EU would be affected.. Leading economists speak about the effects of a US recession on the Maltese economy Economists quizzed by Business Today about the effects of a potential recession in the…
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Press Release – Għawdex jeħtieġ Public Service Contract ġeneruż fit-trasport bejn il-gżejjer li dalwaqt se jiġi liberalizzat
Press Release – 10 ta’ Mejju 2009 Stqarrija mahruga mill-Kandidat ghall-Elezzjonijiet tal-Parlament Ewropew Edward Scicluna Għawdex jeħtieġ Public Service Contract ġeneruż fit-trasport bejn il-gżejjer li dalwaqt se jiġi liberalizzat Għal kull miljun Ewro roħs fil-prezzi tal-biljetti tal- Gozo Channel, l-ekonomija Għawdxija tiggwadanja bejn hames u seba’ miljun Ewro riżultat tal-flus li jintefqu minn min iżur lil…