VALLETTA (MALTA) (ITALPRESS/MNA) – Finance Minister Clyde Caruana has warned that cost-of-living protests across Europe are likely to intensify in the coming weeks and months, describing the demonstrations as potentially only the first wave of public unrest.

“I greatly fear that this is just the first wave of protestors protesting,” Caruana told Parliament.

He said mounting debt and rising living costs would place further pressure on European citizens, forcing more people to take to the streets.

Referring to protests in France, Milan and Brussels, Caruana said the demonstrations reflected governments’ inability to address the economic pressures facing their populations.

“What is happening in France, Milan, and Brussels is a result of governments who are unable to do what we are doing,” he said.

Caruana also referred to protests in Italy, where public transport employees have reportedly gone on strike over fuel prices, saying workers could no longer afford the rising costs.

He stressed that European protesters were “citizens like us” who could no longer bear the financial burden of increasing prices.

In contrast, Caruana maintained that Malta’s economic situation was “totally different” from that of countries experiencing growing public anger over the cost of living and energy prices.

He attributed the difference to decisions taken by the government in recent years to shield the economy from external shocks.

While acknowledging that Malta was not immune to similar pressures, he insisted that the government would continue protecting households from rising costs.

Caruana confirmed that energy subsidies would remain in place, revealing that the government had spent €400 million this year to keep energy and fuel prices down in Malta and Gozo.

He defended the subsidies, arguing that they were necessary to protect citizens from the impact of higher prices.

“Whoever tells us to stop supplying them, I believe their interests are other than safeguarding Maltese and Gozitan citizens,” he said.

He said the government would continue its efforts to protect the economy, adding that further details would be announced in his upcoming Budget speech.

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(ITALPRESS).

Source: medNews