Credit rating to be upgraded once Budget is approved - PM
Prime Minister Lawrence Gonzi has said that voters need to be careful and not make the same mistake they did in 1996.
This was when the Maltese citizens elected Labour in government after it promised that the VAT would be removed.
Gonzi said that this failed proposal can be compared to Labour’s energy plan which he reiterated is being criticized by all experts.
“A country's sound finances are what lead to a strong economy” he added, as without this, Malta would not be able to sustain sectors such as jobs, education, healthcare, and investment.
“If Malta asked for a bailout from the EU or the International Monetary Fund”, he pointed out that Malta would not remain for all of us, as the PL slogan states. Instead we would be having people telling us how to manage our finances.
Gonzi also spoke about this week's downgrade of Malta by credit rating agency Standard & Poor's, where he said that this was because the budget was not approved.
However he added that this downgrading “is not the end of the world” and he is certain that after the election the budget will be approved and the credit rating will be upgraded once again.
The Prime Minister also urged the people “to stay positive about the future.”