Abela: People want quicker shift towards economic model which improves quality of life

Prime Minister Robert Abela said people want government moving “at a quicker pace” towards an economic model that improves quality of life.

Speaking during the closing of the presentation of the fourth annual State of the Nation survey, the PM said they want an economic model that goes beyond economic growth.

Abela heaped praise on the country’s “unprecedented” economic growth, but said it had introduced new challenges for Malta to deal with. He mentioned the fact the pressure on the country’s infrastructure and demographics needs to be prioritised.

The PM disagreed with statements that Malta’s economic model is based on an increase in population growth, saying it was “mistaken”.

Abela said migrants workers do not just create challenges for the country to deal with, but also help in enhancing Malta’s “skills and culture”.

“We need to analyse how these workers are meeting our needs as a nation, all the while analysing the skills of Maltese workers,” he said.

Abela vowed to focus on bolstering economic sectors that "least impact our country’s infrastructure," citing niches such as robotics, artificial intelligence, the digital economy, financial services, and gaming.

However, he cautioned that this approach does not mean the government will neglect the core industries that have driven Malta’s economic growth, such as tourism, construction, and maritime sectors.

"Our greatest mistake would be to disregard the feedback from credit rating agencies that commend our economy's diversification," he said.