Almost 3% of GDP now dependent on the sale of passports/citizenship

A report published by the regulator for the sale of Maltese citizenship has found that selling EU passports and the property/rental spin-offs therefrom now account for almost 3% of GDP.

Because it is unsustainable, it follows that this is insane. The government is now caught in a trap where it has to keep selling EU passports – good luck with the consequences of that – to keep up the GDP figure, or stop selling them and watch GDP shrink by 3%.

The alternative – finding a sustainable and properly productive way to grow the economy – is apparently beyond the people whose main concern now is entering into deals which will grow their assets and “populate” their companies in Panama and the British Virgin Islands (and those are just the ones we know about).