Malta, due to Covid losses of 1.5 billion

LA VALLETTA (MALTA) (ITALPRESS/MNA) – Malta has registered a revenue loss of €1.5 billion in a year and a half due to the coronavirus pandemic. This was confirmed by the Maltese Finance Minister Clyde Caruana. Minister Caruana added that while the government’s financial revenue decreased, the expenditure increased exponentially due to COVID-19 and to safeguard jobs in the private sector. He also acknowledged that the coronavirus pandemic has presented various challenges, however Caruana added that next year the Maltese economy will surpass the growth of EU countries with a growth of 6.8%. The current deficit in public finances stands at €1.6 billion. Maltese Finance Minister added that next year, the deficit will decrease from 12% to 5.6%. “This will occur not because of new taxes but because the economy will provide more income and it will once again stabilise itself.” So far, Malta has registered 449 deaths due to COVID-19 while 747 cases are still active. 5 patients are receiveing treatment at the Intensive Care Unit at Mater Dei Hospital.

Source: medNews