Opportunities vs Threats: ‘It is time to ensure that green & inclusive digital pillars are well-rooted’

In this series, prominent business figures in Malta shed light on the short-term future of business on the island, by identifying the opportunities and threats that carry the potential to redefine Malta’s industries and markets in the year to come. This feature was first carried in the annual print publication MaltaCEOs, the sister brand to MaltaCEOs.mt.

Dr Stephanie Fabri is an economist and lecturer at the University of Malta, specialising in strategic management and public policy. From an economic perspective, she still sees the threat of a global recession looming in 2024, although she says that the perceived probability of such recession declined substantially in line with the developments of Q1 this year.

“I’d say 2023 was better than expected, but we’re not out of the woods yet. That’s why Malta’s main challenge in 2024 will be managing the impact of increased interest rates brought about by inflation control.

“We’ll also be feeling the effect of the turmoil taking place in the Middle East, as well as an external environment that is becoming much more volatile, uncertain, complex, and ambiguous. The world is changing at breakneck speed; experts and policymakers at large can only take a potential guess at what 2024 might look like.

“Having said that, we do have solutions that will lead to opportunities. It is time to ensure that the green, inclusive and digital pillars are well-rooted in economic growth. I believe we have a clear vision of our destination, and the faster we go, the earlier we will start reaping the economic and social benefits.

“If we want an advantageous 2024, let’s cut the bureaucracy where we can, let’s come together as a nation and cautiously speed our way through these uncertain times.”

First published as part of a wider feature first carried on MaltaCEOs 2024 print publication, the sister brand to MaltaCEOs.mt.