Parliament yesterday kicked off the process to extend Malta’s exclusive fishing zone in reaction to Libya’s and Tunisia’s newly claimed zones which ban Maltese fishermen from their historical fishing grounds and which also have repercussions on Malta’s oil exploration efforts.
The Federation of Industry and the Chamber for Small and Medium Size Enterprises-GRTU have expressed their concern that increasing fuel costs will push inflation upwards while denting the country’s competitiveness.
Government heeded the “worst” economic advice possible when it opted for a fixed peg to the Euro upon joining ERMII in April according to economics professor Edward Scicluna.
A former chairman of the Malta Council for Economic and Social Development and an economics professor by profession, Edward Scicluna does not mince his words in describing the prevailing economic situation: the country is experiencing one of the longest, even if not very deep, recessions since World War II.
The liberalisation of commerce and lifting of trade barriers was a bold step to align Malta's economy towards the EU's model. The growing list of accredited professionals and consultancies is readily available to all applicant firms requesting their services. This was a positive move towards creating a professional approach aimed at kick starting a restructuring mentality. READ MORE >>