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August 29, 2014 at 11:36am
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http://www.timesofmalta.com/articles/view/20140829/local/deficit-up-by-505m-between-january-and-july.533609
I suspect that there is a substantial amount of cooking in the press releases issued by the NSO and then the various ministers.
There are too many conflicting signals being given: On the one we are told that the economy has grown, on the other we are told that there are many indicators that are showing a compromised economy.
One has to wade through these different messages to get to the bottom of the truth.
As far as I am concerned, the economy seems to be showing serious problems despite Labour’s counter claims.
With deflation, decreasing retail sales, slow private sector employment and investment, and rising public expenditure and employment the outlook points to chronic rather than acute problems that need to be addressed.
Releasing real estate developers from the MEPA burdens and the sale of passports is not going to solve any problems. It only demonstrates how short sighted the present administration is and how it is still stuck on an economic model of an underdeveloped country.
http://www.maltatoday.com.mt/news/world/42890/google_plans_drone_fleet_to_deliver_packages_#.VABSg8WSzCo
Quick, call the FKNK.
Grace Borg’s worst nightmare.
Which is why I’d arm the drones, but that’s just me.
And do the people care? No, they want to enjoy summer and giggle at ice buckets. Fiddling while Rome burns.
The economy going rapidly down the tubes and Libya blowing up just a hop & skip away from us. What is it going to take for people to wake up and realise that there’s nobody really in charge?
Tabilħaqq kif qed tgħid int Arnold Layne. Terremot jew xi splużjoni forsi jqajjimhom qawma fuq tagħhom. Mill-bqija kulħadd happy go lucky u għada naraw.
Is it a Stink or a whiff ?
Could it be MaltaToday has become more credible than the Times ?
http://www.maltatoday.com.mt/news/national/42913/caf_premier_42_million_bailout_stinks_of_corruption#.VABWKcWSySo
http://www.timesofmalta.com/articles/view/20140829/local/pn-says-cafe-premier-payout-has-whiff-of-corruption.533610
So both the Times and MaltaToday have finally gotten themselves an elephant?
@ Kevin – The economy may very well be growing, by budget deficiting. Increased government employment, handouts etc lead to increased consumption.
The problem is this: is it sustainable?
No, the economy is not growing by budget deficit. To an extent it used to be the case under the previous administration.
Sustainable growth is only dependent on investment in infrastructure. Government employment does lead to growth not unless it is warranted, for example, a shortage of nurses.
Presently, public sector employment is way too high and productivity may be as low as 10% in a few sectors. This government is aggravating the situation by employing people and by employing people who were, on the average, employed elsewhere.
Indeed expenditure of this kind (rather than infrastructural investment) is growing faster than revenues. This means that it is not sustainable.
Again I state:
“With deflation, decreasing retail sales, slow private sector employment and investment, and rising public expenditure and employment the outlook points to chronic rather than acute problems that need to be addressed.
Releasing real estate developers from the MEPA burdens and the sale of passports is not going to solve any problems. It only demonstrates how short sighted the present administration is and how it is still stuck on an economic model of an underdeveloped country.”