Press Release: SME Chamber welcomes reactivation of Bank moratorium possibility
18 January 2021
FURTHER EXTENSIONS WILL BE NECESSARY The Malta Chamber of SMEs greatly welcomes the extension granted...
Official statistics show that 2012
closed with a 3.3% government Deficit as ratio of GDP. A mere 0.3% above the 3%
ceiling imposed by the EU. This is a ceiling whose relevance to Malta is itself
arguable. But these are Malta Government's own Statistics. The Central Bank of
Malta's figures showed a more trustworthy 2.7% deficit to GDP ratios – well
below the EDP limit.
Malta during 2012 was one of the very
few Member States whose economy showed positive growth yet unlike other Member
States who in their majority had negative GRP growths. This positive trend continued even in the
first quarter of 2013 with Malta's economy growing by 1.6%. Yet it has been
little Malta that was targeted by the EU Commission for highly negative
The potential for Malta to continue to
stay within the acceptable Deficit targets exist and Maltese entrepreneurs are
fully supportive of all Government's initiatives to boost GDP growth and
maintain stable Government finance. EU Commission Economic analysts have very
little economic grounds on which to stand on in their pessimistic assessment of
GRTU believes that the Commission owes
Maltese investors and entrepreneurs an explanation. It was bad enough for Malta
to be highlighted in the Press Conference announcing the Country Specific
Recommendations of the Commission. Hopefully, the EDP decision will not hamper
Malta's economic prospects.
Malta deserves better. Maltese
entrepreneurs strive hard to invest and make the Maltese economy grow and
establish an excellent name in international economic performance analysis. It
was bad enough that the Chairman of the EU Finance Ministers only some months
ago blemished Malta's good name by comparing falsely Malta with Cyprus. Now the
EU Commission has put its foot in it also by declaring Malta under EDP when
there was no need for such a harsh and negative imposition. We simply did not
deserve all this.
The Malta Chamber of SMEs represents over 7,000 members from over 90 different sectors which in their majority are either small or medium sized companies, and such issues like the one we're experiencing right now, it's important to be united. Malta Chamber of SMEs offers a number of different services tailored to its members' individual requirements' and necessities. These range from general services offered to all members to more individual & bespoke services catered for specific requirements.
A membership with Malta Chamber of SMEs will guarantee that you are constantly updated and informed with different opportunities which will directly benefit your business and help you grow. It also entails you to a number of services which in their majority are free of charge and offered exclusively to its members (in their majority all free of charge).