The Malta Chamber of Commerce, Enterprise and Industry conducted a survey over the weekend to understand the expected effects of the government support measures announced on the 18th March.
The preliminary results were communicated with Government over the course of Monday, 23rd March. In essence, the feedback coming through the survey confirmed that the stimulus package needed to be directed more specifically towards more tangible wage support schemes for employers in hard-hit sectors of the economy in order to urgently save jobs and precious resources for local companies.
At the same time, the Chamber organised a high-powered e-meeting with the participation of 25 expert CEOs from the world of finance, banking and innovation. The meeting chaired by president Perit David Xuereb served to evaluate creative and tangible solutions to protect employment and address the economic impasse in Malta (both in the immediate and short term) caused by the effects of covid-19 whilst collecting researched and expert thoughts on the country's potential future steps in the current circumstances.
The outcome of this discussion was communicated to the Prime Minister shortly after the conclusion of the meeting in advance of a special cabinet meeting reportedly called to discuss additional measures aimed at supporting hard-hit businesses.
The Chamber shall continue to proactively serve member businesses and their employees in all sectors to ensure they see out this unfortunate predicament with least damage possible.