‘Business down on its knees’ – GRTU

Tista' taqra bil- Malti.

The Malta Chamber of SMEs (GRTU) observed that the political instability over the past two weeks had a devastating impact on businesses around the islands, which was not limited just to Valletta. In a statement on Friday, the Chamber noted that few seemed to have noticed that business is already on its knees, as it called for the Prime Minister to step down immediately.

The Chamber carries out frequent studies to assess the going of businesses, in its statement it said that while results fluctuated it has never registered such a sharp dip. In their replies the respondents called on for the immediate resignation of Prime Minister Joseph Muscat. They also called for immediate stability, good governance, improvement of Malta’s image on an international level, and a ‘clean sweep’. The respondents noted that the ‘law was not equal for everyone’, adding that what the country required was an honest and hardworking government, that is colour blind referring to partisan politics. They also remarked that Malta earned a bad reputation which would not only affect tourism but also the rest of the country.

‘Business sales have plummeted and this happened everywhere,’ the statement reads. According to its study, 65% of the respondents said that business has gone down. 15% of these have indicated over a 50% drop in sales. Some businesses explained that customers also stopped buying essential products such as medicine. Valletta registered a more negative trend.

From their study, it resulted that 46% of the businesses said that they would reconsidering, postponing or cancelling their investment plans for next year. 28% said that they did not have any investment plans and 26% said that they will carry on as planned.