Chamber: Rich in social measures, vague on economic recovery

Perit David Xuereb
Miguela Xuereb

In its reaction to the budget speech, the Malta Chamber said that it was rich in social measures but vague on economic recovery. It said that this budget does not address the massive impact that Covid is having on operating costs for businesses, and introduces no new measures to support businesses that are struggling on this front.

“This reflects Government’s optimism that the economy will recover in the short term, an optimism that is not shared by businesses at large,” it explained.

The Chamber hopes that should the Covid crisis deepen or extend beyond the next six months, the budget offers little support beyond that period.

“The country must emerge out of this fog more resilient and energised today, for a more competitive Malta tomorrow,” it added.

In this regard, the Chamber felt that this budget falls short on the detail on how to achieve this.