Malta's Economy Strong, But Not All Sectors Growing At Same Pace – Frank V. Farrugia

27th March 2019

Chamber President addresses ‘State of the Maltese Economy’, an event featuring leading voices on the subject, providing an analysis of the performance of the Maltese Economy

“Our economy as a whole is doing well. But not all sectors and industries are growing at the same pace - we know there are specific challenges for some sectors” said Mr Frank V. Farrugia, President of the Malta Chamber as he was welcoming guests to the “The state of the Maltese Economy”, which was held on Wednesday.

The event which was organised by the Malta Chamber together with EMCS, provided an analysis of the performance of the Maltese Economy and featured contributions by a list of international guests speakers together with Malta’s leading economic voices. The event also featured interviews with the Prime Minister Dr Joseph Muscat and the Leader of the Opposition Dr Adrian Delia.

Mr Farrugia said that the Chamber members were generally positive about their economic prospects. “The country however, must ensure that it does not take success for granted. The international situation is ever volatile and we must remain nimble and efficient to respond to internal and external shocks” Mr Farrugia said.

The President reiterated the Chamber’s call for long-term planning. “In fact, the Chamber called on Government to capitalise on the present economic resilience to invest in the necessary infrastructure and safeguard long-term fiscal and economic sustainability”.

Mr Farrugia also mentioned that the Chamber would once again be proposing a new Economic Vision for the country. “As I was pleased to announce during our Annual General Meeting last Monday, the Chamber, under my Presidency, has started working on a second Economic Vision - this time for 2021 and beyond” the Chamber President said. “As we speak, 25 champions of enterprise and industry are being involved in discussions in order to help the Chamber draw up this vision for our country. I am truly honoured to have kicked off this ambitious and vital process” Mr Farrugia concluded.

The event also featured a key-note speech by Prof Peter Mckiernan - Professor of Management and Director of the Global MBA at the University of Strathclyde in Scotland.


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