Government intends to address the country’s challenges’ – Finance Minister
By 2020 we would like to see a significant increase in the labour market and the number of persons in tertiary education to enable Malta to face its future with confidence, the Finance Minister, Prof. Edward Scicluna, said.
Prof. Scicluna was speaking during a panel discussion held at the PricewaterhouseCoopers (PwC) annual conference at the Westin Dragonara. The other members of the panel included the Island Hotels Group CEO, Winston Zahra and EC Group Executive Chairman, Andrew Mangion.
Prof. Scicluna emphasised that diversification is the key to minimising external shocks to particular key sectors. He contended however that the perennial problem of controlling public expenditure must be met by a reformed budgetary process.
In this respect, Prof. Scicluna said, talks are being held by the Finance Ministry and the leading international institutions, namely the IMF and the World Bank, to advise the Government as to the best way forward.
The discussion panel also discussed others topics, including the major challenges facing the Maltese economy over the coming months and beyond, and the ideal way to address them.