Fabian Demicoli

Covid: The latest business developments; Our achievements for 2021

Throughout 2021, businesses have been in an even more fragile state than they were last year with the pandemic stretching beyond what had been foreseen. In the first quarter of 2021 the Malta Chamber of SMEs continued discussions with the government to continue minimising the impact of the Covid-19 pandemic on businesses.

Following several meetings, the SME Chamber managed to secure an extension on Bank moratoria and tax deferrals and wage supplement extension till end of year.

Extension of the Bank moratoria and Tax deferrals, and their long-term visibility

The Malta Chamber of SMEs has during the last months and weeks been emphasizing on how essential it is to extend the basic pillars of support of the moratoria and deferral schemes.

The SME Chamber managed to secure an additional 6 month extension for the Bank moratoria scheme, till September, and the Tax Deferrals Scheme has restarted from where it left off last year till the end of 2021.

The Malta Chamber of SMEs believes that the extension of these measures will give added comfort to businesses in the light of the lack of visibility and uncertainty ahead. The last thing businesses need at the moment is to worry how they are going to make repayments when there is no or little funds coming in.

Tourism recovery plan

The SME Chamber has been calling on greater visibility and a defined recovery plan for months and therefore welcome the tourism recovery plan starting from June 1st.

Malta needs to remain and be able to market itself as safe. Strict rules must be followed that ensure incoming tourists are not putting our country’s health care situation in danger. The SME Chamber believes that Malta now has the necessary experience and infrastructure in place to handle the gradual re-opening of the tourism season appropriately.

The Malta Chamber of SMEs thanks the Energy, Enterprise and Sustainable Development Minister Hon. Miriam Dalli and Finance Minister Hon. Clyde Caruana.

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