Tag: Clyde Caruana
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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…
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Latest NSO figures confirm government finances continue to go deep in the red
The second batch of public finance statistics by NSO following the publication of the statistics of the Consolidated Fund confirm that the government’s finances are significantly off-tack from what was promised by Finance Minister Clyde Caruana in an April conference at the Ministry of Finance. The government recorded a general government deficit of €339 million…
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The malevolant beauty of finance
Finance is the most beautiful craft in the world because it is the discipline that most ruthlessly imposes accountability on its practitioners. Financial markets are where meritocracy is at its cleanest, most transparent and most efficient. Public finance is more distorted by institutional manipulation, but its effects are just as powerful. Getting public finance wrong…
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Three promising names of this election
This general election has brought out the best out of some political candidates, who have emerged as very promising names with a very interesting political career ahead. Here’s three of the political candidates who have really outdone themselves during this general election campaign. Finance Minister Clyde Caruana This has been Clyde Caruana’s general election campaign.…
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Finance Minister Clyde Caruana is already being challenged over his estimates
Finance Minister Clyde Caruana is already being challenged over his fiscal estimates, and his estimated expenditure is so grossly inflated that it is already a very strong point of contention against a Labour government. If potentially re-elected as Finance Minister, Clyde Caruana is going to spend the rest of his tenure defending a massively large…
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Publication of government finance data to be postponed over “Reflection Day”
The government’s finance data, which includes estimates of expenditure and revenue for January to April, and was originally scheduled to be published on 29 May, has been postponed, with “Reflection Day” cited as the reason. The decision is highly unusual, since official statistics are supposed to be politically neutral and their publication should not be…
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What does the fiscal forecast actually say? It says that the Labour government has changed its forecast
Yesterday, the Labour Party and Nationalist Party Leaders Robert Abela and Alex Borg held their first public debate on the public broadcaster. It was hosted by the Prime Minister’s own propagandist Saviour Balzan and there is no recording of it online. There are snippets and press reports about it and one of the most noteworthy…
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Meet Deputy Prime Minister Clyde Caruana
Finance Minister Clyde Caruana has built a reputation for fiscal prudence and has so far been seen as a voice of reason in a cabinet of ministers riddled with corruption, crime, cover-ups and conspiracies. He seems to have lost his conservative composure during this general election campaign as he rolled out his new expansive fiscal…
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Clyde Caruana goes on fire in Imqabba: “The Labour Party is the only party of change”
Finance Minister Clyde Caruana gave his most fierce and and strongest ever public speech in his political career stirring the crowds with an ideological discourse lauding the principles of social justice adhered to by the Labour Party. He lauded the Labour Party’s measures which are helping the masses from electricity and fuel subsidies, pension increases…
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The total cost of Labour’s Peronism in 2027: €0.5 billion and counting
The total cost of the Labour Party’s Peronism as pledged during this electoral campaign amounts to at least €0.5 billion. Note that the Nationalist Party is not opposing this new form of economics; on the contrary. It is going along with it by proposing its own different form of tamed down Peronism with the concepts…
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The new Labour Party’s economics is similar to Peronism
The new trend of Labour Party economics isn’t new and neither innovative. Direct subsidies have been the common feature of Third-World economies where there is a wide discrepancy between the average and minimum salaries and the cost of living. That a government needs to issue subsidies is also a sign of the weakness of the…