As a leading economist, Gordon Cordina has more than 25 years of professional experience in banking, policy-making, academia and private sector consultancy. A graduate of both the University of Cambridge and of Malta, his main area of academic interest is the growth and macroeconomic dynamics that face economies prone to heightened risks.
“Periods of uncertainty typically usher opportunity. Stability and predictability may be desirable, but they offer limited scope for the business disruption, innovation and creativity needed to thrive in adverse, or riskier, business conditions.
“The current macroeconomic situation presents three major sources of uncertainty, which won’t affect all businesses in the same manner. The first is the expected growth in clients’ purchasing power, as major European and other economies enter recessionary conditions.
“The second is the rate of price increases, which may affect the cost side differently to the income side of the business. The third is interest rates, which are rising substantially globally, but which will not necessarily remain high for long and which, in Malta, have remained largely unchanged.
“Businesses should develop strategies to counter or absorb adverse shocks and exploit opportunities, while working harder, more effectively and efficiently.”
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