Abela: Absorbing energy inflation shock has allowed economy to bounce back

While other countries are switching off energy supply and limiting production, Malta is doing the opposite and this has allowed the economy to bounce back, Robert Abela said.

While addressing the Malta Future Realised Conference, organised by EY, Abela said Malta's economic success stemmed from the stability provided by the government.

“Energy will remain stable; the government will keep absorbing the shock in inflation of energy prices. We will support your needs,” the Prime Minister told conference delegates.

The government is creating new prosperity for businesses and families and this is having an impact on the country's attractiveness to foreign direct investment, he said.

Malta’s investment attractiveness has bounced back to its 2020 ratings at 58%, according to the annual survey carried out by EY.

Carried out just after the country was taken off the FATF grey list in June 2022, EY-Parthenon’s 18th Malta Attractiveness Survey also revealed a corresponding improvement in the decrease in number of respondents who expressed the view that Malta ‘is not attractive’.

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