Fabian Demicoli

GRTU attends pre-budget discussions

 

President Paul Abela attended a
business breakfast organized by the Ministry of Finance, Economy and Investment
focusing on Pre-Budget Proposals for the coming Budget.

During his intervention Mr Abela thanked
Minister Fenech and his team for the provision of Schemes for SMEs, which were
instrumental given the current financial situation to surpass better than their
EU counterparts, and also for finding a solution to the Air Malta current
situation. The acceptance by the Commission of Air Malta's re structuring
proposal paved a better future for its sustainability.

However Mr Abela pointed out that the road
infrastructure upgrade in Gozo has taken a particular negative toll on
businesses and accordingly asked the Minister to consider schemes which could
bolster the business community in Gozo in order to make up for losses incurred
during the infrastructure upgrade and make businesses in Gozo more sustainable.

Mr Abela also stated that the up and coming
Loan Guarantee Scheme had to guarantee 90% of the funds required by SMEs. This
is imperative if the Scheme is to be a success.

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