Structural difficulties ‘cannot be ignored’ despite economic success – Malta Employers’ Ivan Refalo

Malta Employers President Ivan Refalo has cautioned Government about the crucial need to tackle Malta’s structural weaknesses, warning that they can “erode Malta’s hard-earned economic standing” if left unaddressed.

In a pre-Budget meeting with Prime Minister Robert Abela and senior Cabinet Ministers, Mr Refalo pointed to long-term structural difficulties like fiscal morality issues, governance concerns, skill shortages and external vulnerabilities.

“While recent economic successes are encouraging, the pressing challenges and structural difficulties which the Association has consistently highlighted cannot be ignored,” he said.

“Malta Employers therefore stresses the importance of forward-looking policies that consolidate strengths while tackling structural weaknesses to ensure sustainable and inclusive growth,” he continued.

The association acknowledged the country’s strong economic progress whilst underlining that “economic growth is generated first and foremost by private employers who create jobs, attract investment, and drive innovation.”

The Malta Employers President said that its proposals for the forthcoming Budget are intended to safeguard and enhance the competitiveness and resilience of these Maltese enterprises within an increasingly challenging and interconnected global economy.

“If Maltese enterprises are competitive, the Maltese economy is resilient and social justice prevails” he concluded.