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The Maltese Herald

The IMF says the obvious that the governmnet’s finances are not sustainable

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by

Mark Camilleri
in

The IMF’s latest report on Malta delineates that the government’s finances and its spending spree are unsustainable. Apart from having to rebalance the budget and make cuts, the IMF is noting the obvious that constant subsidies to keep the economy afloat is not a sustainable economic policy and that the government needs to move towards a policy of creating more productive jobs. This report is consistent with the previous IMF report on Malta.

Basically, this is the same thing that Finance Minister Clyde Caruana has been saying last year, especially after having vented off his anger physically, while Robert Abela intends to keep bankrolling a Sicilianised economy with even more debt. In reality, Clyde Caruana is a lone voice with regard to financial austerity in the cabinet, so everyone else does basically whatever they want, and it’s money no problem.

Comments

  1. Frans Camilleri avatar
    Frans Camilleri

    Misinformation and disinformation are to be condemned. Nowhere does the IMF say that Malta’s public finances are not sustainable, but it does say that energy subsidies need to be phased out. The report says that Malta’s government broadly agreed with the IMF conclusions. The IMF said that the deficit and public debt need to be reduced – the government agrees and Budget 2024 drawn up before the IMF report shows this. If there is some disagreement it is about energy subsidies. The IMF would have liked to see a speedier phase-out ehile the government prefers a slower one.

    Facts please

    Reply
  2. It’s not true that the government has a “no new taxes policy” – Mark Camilleri avatar
    It’s not true that the government has a “no new taxes policy” – Mark Camilleri

    […] economic policies are his own only, based on his feudal fantasies, and fly against all expert recommendations and the position of the Minister for Finance, Clyde […]

    Reply

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