Tag: Clyde Caruana
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Mono-rail project estimated to cost 30% of GDP: Minister Clyde Caruana
Yesterday in Parliament, Finance Minister Clyde Caruana reiterated his position on the proposed monorail project by the Labour government, saying that he would only approve the project if extensive studies were presented. So far, the Minister said, no such studies have been presented. The Minister also said that the project is estimated to cost up…
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BREAKING: Finance Minister blasts Joseph Muscat over the national airline – COLA at €5
Finance Minister Clyde Caruana is currently being interviewed by The Times in a public event and has made a very surprising statement on the crisis that is currently the national air line KM Malta Airlines – the successor of Air Malta. The Finance Minister made a reference to Joseph Muscat as he said that there…
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Breaking the bank to get elected
There is a very good reason why first-world economies don’t use populist measures: they don’t work. Labour seems to believe that is re-inventing the wheel by executing a populist subsidy policy when these kind of policies are already widely applied in many third-world countries including in Egypt and Pakistan. Finance Minister Clyde Caruana has changed…
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Labour’s Zeitgeist in one image
Just to be clear, I don’t know if the two individuals in this image are related to each other — they are both Caruana, but Caruana is also one of the most popular surnames in Malta, along with Borg and Camilleri. This image is, however, interesting because it perfectly represents Labour’s Zeitgeist during the current…
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On the defensive: from calculators to Bible-speak
Yesterday’s press conference by Finance Minister Clyde Caruana was a bit different from the usual press conferences because it contrasted with his typical press conferences, where he projects control and stability. The Minister admitted that the country cannot afford additional expenditure this year, including the electoral promises made during the election campaign, mainly since the…
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If the economy is so good why is the birth-rate so low?
Minister Clyde Caruana has made some very big statements today which need to be addressed. The Finance Minister today said that Malta has the best economy in Europe because fuel and electricity subsidies are keeping inflation low, effectively thus cushioning the negative impacts of the external energy shock. He said that these subsidies are helping…
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Finance Minister invokes the Bible to explain why populist measures are being postponed
In a press conference earlier today, Finance Minister Clyde Caruana invoked the Bible to explain why the populist measures announced during the general election campaign will not be introduced during the next budget. The Finance Minister referred to passages in the Bible about the creation of the Earth, when God took up to six days…
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Saudi Arabia’s calculator is bigger than yours
When we wrote that the Minister of Finance, Clyde Caruana, was too cocky in his excessive confidence during the election campaign, it was because of the exact events we have been warning about all along with regard to government subsidies. It is also the main and core question that I put forward to the Minister…
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President Trump promises Americans $5,000 if Republicans win midterm elections
US President Donald Trump has drawn ridicule and accusations of trying to buy votes after promising Americans a $5,000 payment if Republicans retain control of Congress in November’s midterm elections. President Trump made the extraordinary proposal during the Republican Party’s midterm convention in Dallas on Wednesday, telling voters: “If the Republicans win, you win with…
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Provisional government deficit for Q1 2026 at 3.6%: higher than last year and previous quarter
Provisional Eurostat figures show that Malta’s seasonally adjusted general government deficit stood at 3.6% of GDP in the first quarter of 2026, increasingly sharply from 0.1% in the same quarter of the previous year and 3.1% in the preceding quarter. The average seasonally adjusted general government deficit-to-GDP ratio stood at 3.1% in both the euro…
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Despite low inflation estimates for tomorrow, inflation remains lagging
Despite low expected inflation rates coming out tomorrow by Eurostat, the renewed escalation of the war in the Persian Gulf risks pushing inflation back onto an upward trajectory in July. Eurostat’s preliminary estimate has already placed Euro-area inflation at 2.8% in June, down from 3.2% in May, while Malta’s rate is estimated to have fallen…
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Sacrificing the plebs on the altar of the FATF
Yesterday, Times of Malta, published an interview by Bank of Valletta’s CEO Kenneth Farrugia who said that Malta does not risk getting grey-listed again by the Financial Action Task Force (FATF) because local banks have introduced a wide-range of measures to combat money-laundering. This is a very nuanced statement which deserves a reality-check and a…