Economy allows government to present Budget for the long-term: Abela

Prime Minister Robert Abela on Wednesday said the country’s strong financial and economic performance will help government present a Budget focused on long-term initiatives.

In a meeting with the Chamber of Commerce, Abela said challenges brought about by rapid economic growth will continue to be addressed.

He stressed Malta’s economy is increasingly attracting capital-intensive investment based on knowledge and added value.

“Our country is attracting investment in new economic sectors driven by innovation, digitalisation, and sustainability,” Abela said.

The PM also highlighted the importance of ensuring Malta remains an attractive destination for foreign direct investment, noting that in recent years FDI has grown significantly, with the number of jobs created through such investment having doubled.

“As we have always done, we will continue to be a shield for enterprises. We will keep strengthening support from public entities such as Malta Enterprise and others, while remaining assertive on the unique needs and challenges we face as an island nation. At European level, we will keep ensuring that our enterprises and investors are not placed at a competitive disadvantage. Maintaining a level playing field is essential,” he said.

Abela also thanked the Chamber of Commerce for their cooperation and input in various public consultations.

Also present for the meeting were the Deputy Prime Minister Ian Borg, Ministers Silvio Schembri, Clint Camilleri, Byron Camilleri, Miriam Dalli, Clyde Caruana, Jonathan Attard, and Chris Bonett, and the Head of Secretariat at the Office of the Prime Minister Mark Mallia.