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

By: Matthew Agius

Matthew Agius — Fri, 11 Nov 2016 22:55:00 +0000

Can’t wait to see how much I will suffer when the Maltese bubble bursts. Malta remained relatively stable during The Great Recession and now we have a Joseph Muscat creating another bubble just for us.

By: michael

michael — Fri, 11 Nov 2016 10:53:00 +0000

The Finance Minister and the Prime Minister are incredibly irresponsible for creating an impression that Malta’s economy is performing exceptionally. Any responsible CEO/government faced with the same situation would manage expectations.

The sale of Maltese citizenship (IIP) is going to slow down. Hedge funds are turning their backs on Malta for a number of reasons. Legitimate gaming companies are facing huge difficulties convincing payment providers that they are not laundering money. Developers are paying off tax debts using unsold property, which is a huge red flag that something is wrong.

All these seemingly disparate elements are building up, and when the economy reaches tipping-point it is going to be disastrous.

By: Benny Hill

Benny Hill — Fri, 11 Nov 2016 09:53:00 +0000

That’s a massive portion of GDP dependent on selling something which is likely not benefitting the advancement of Malta in any way. And it’s unsustainable in the long-term, as you said, which makes it much worse.

By: observer

observer — Thu, 10 Nov 2016 20:57:00 +0000

In reply to Rosie. That, my dear Rosie, is the 315 million Euro question. Do you expect it to be answered?

By: FP@DISQUS

FP@DISQUS — Thu, 10 Nov 2016 20:50:00 +0000

Optimists say that every cloud has a silver lining. And the usual suspects will promptly tell you that Malta has been swamped with silver linings ever since Labour got into power.

The problem under Labour, however, is that every silver lining comes with a f*cking tropical cyclone the likes of which will put any and all optimism right where it belongs: squashed under the national collective reality check.

By: Dave

Dave — Thu, 10 Nov 2016 20:40:00 +0000

By next year the same 3% will be used to buy the extra power station off the Gasan/Tumas/Azerbaijan bunch.

By: Patrick Sciberras

Patrick Sciberras — Thu, 10 Nov 2016 20:10:00 +0000

According to TVM news 55 million euros went into the consolidated fund, 24 million euros in the consolidated fund and 13 million euros as expenses H&P and Identity Malta.

So where has the special development fund got to and what is the commission set up to run it running?

By: Rosie

Rosie — Thu, 10 Nov 2016 19:37:00 +0000

Where is the money?

By: Godfrey Leone Ganado

Godfrey Leone Ganado — Thu, 10 Nov 2016 19:27:00 +0000

The GPP (Gross Personal Product) of Lord Egrant, Baron Hearnville and Count Tillgate may also be somewhat dependent on the sale of citizenship, at least until the 18-year power supply agreement and the 30-year health saver come into operation.

By: quickmick408

quickmick408 — Thu, 10 Nov 2016 19:10:00 +0000

Wonder where it all is? At the last round of questions they admitted they didn’t have an account set up to put it all in. Probably half of it has gone to Panama, and the other half is being saved for buy offs at election time.