WASHINGTON (UNITED STATES) (ITALPRESS/MNA) – The ceasefire in the Middle East is “closer than it has ever been.” U.S. President Joe Biden said on the sidelines of a ceremony in the Oval Office. Biden added that a truce agreement has not been rea he yet, but is “much closer than it was three days ago”.
-photo Agenzia Fotogramma –
(ITALPRESS)

Source: medNews

LA VALLETTA (MALTA) (ITALPRESS/MNA) – The Malta Fiscal Advisory Council (MFAC) has issued a comprehensive assessment of Maltàs government’s Annual Report 2023, highlighting several areas of concern and offering specific recommendations for fiscal management. In its report, the MFAC emphasised three critical issues: the need to curb government spending, address revenue shortfalls despite economic growth, and develop an exit strategy for the fixed-energy-price policy. “The government should avoid inflating government spending to ensure adherence with the benchmark fiscal expenditure path,” the council said. However, it also cautioned against curtailing productive capital expenditure that promotes medium to long-term growth. While noting Maltàs economy outperforming expectations in 2023, the MFAC also underlined a concerning trend, warning that “government revenue did not exhibit a corresponding increase”. The council pointed out that both direct and indirect tax elasticity to GDP growth remained low compared to previous years, calling for an investigation into these discrepancies. Weighing in on the exorbitant energy subsidies which are costing the taxpayer €320 million annually, the MFAC reiterated “its recommendation to prepare an adequate exit strategy in relation to the fixed-energy-price policy, adopting a more targeted approach and enhancing incentives for energy savings”. This aligns with previous warnings from the European Commission and the International Monetary Fund. The European Commission has recommended that Malta phase out energy-related emergency support measures in 2024 to reduce its deficit. The Commission suggests that savings from cutting these subsidies should address the deficit, but the government has not indicated when it will end them. Ending the subsidies could lead to a spike in the cost of living, a politically unpopular move for the Labour government already facing challenges after recent election results. The government did not address the subsidies in its response to the Commission. In addition to these key points, the MFAC report outlined several other important recommendations. These include:
Export-Led Growth: The Council emphasised the need for Maltàs economic growth to be export-led, reducing reliance on domestic drivers, particularly private consumption. They stressed the importance of enhancing labor productivity and addressing skills gaps to maintain a robust competitive position. Private Sector Investment: The MFAC called on firms to direct excess profits into productive investments and initiatives to enhance labor productivity, viewing this as crucial for improving competitiveness and sustainable economic growth. Fiscal Consolidation: The Council advised that fiscal consolidation efforts should exceed the minimum required under the Excessive Deficit Procedure. They suggested targeting an annual structural adjustment greater than 0.5 percentage points of GDP, especially given the current high economic growth environment. Debt Management: While Maltàs debt ratio remains below the 60% of GDP reference value, the MFAC recommended maintaining this buffer and closely monitoring various components contributing to debt changes, particularly interest expenditure and stock-flow adjustments. These recommendations come as Maltàs debt continued to rise, reaching €9,976.2 million by the end of March, equivalent to 50.4% of GDP. Last month, the EU launched excessive deficit procedures against Malta and seven other member states, Belgium, France, Italy, Hungary, Poland and Slovakia. EU treaties mandate that member states’ deficits should not exceed 3% of their GDP, with debt below 60%. Malta, with a 2023 deficit of 4.9%, faces an excessive deficit procedure from the European Commission.

– Foto Agenzia Fotogramma –

(ITALPRESS).

Source: medNews

LA VALLETTA (MALTA) (ITALPRESS/MNA) – Malta International Airport (MIA) is gearing up for an unprecedented surge in passenger traffic as the peak summer travel season reaches its highest point during these days. The airport said it anticipates over 200,000 travellers to pass through the terminals in the coming week, coinciding with the Santa Maria public holiday weekend. The airport expects to handle more than 33,700 passengers on its busiest days – 15, 22 and 29 August. The peak travel week is forecasted to be until 18 August, with a staggering 216,922 passengers either departing from or arriving in Malta. This surge follows a record-breaking July, which saw 951,861 passengers pass through Maltàs International Airport, marking a 12.2% increase compared to the same period in 2023. July 2024 now stands as the busiest month in the airport’s history, being the first to surpass 900,000 passenger movements. The airport’s seat capacity rose by 11.5%, with an impressive 89.7% seat occupancy rate. Italy remained the top market, capturing 25.5% of the market share, followed by the United Kingdom, France, Germany, and Poland. Notably, Poland emerged as the fastest-growing market among the top five, with a 51.4% increase. As Maltàs tourism industry continues to rebound strongly from the pandemic-induced slowdown, these figures show a promising picture for the island’s economic recovery. The year-to-date traffic has reached 5,017,275 passenger movements, a 17.1% increase over 2023.

– Photo Aeroporto Internazionale di Malta –

(ITALPRESS).

Source: medNews

ROME (ITALPRESS/MNA) – The Italian Prime Minister, Giorgia Meloni, today had a new telephone conversation with the Prime Minister of Israel, Benjamin Netanyahu as part of the continuous contacts she is having on the crisis in the Middle East.

According to an official statement issued by the Prime Minister’s Office, Meloni reiterated her strong hope that an agreement for a sustainable ceasefire in Gaza and the release of the hostages can be reached, in line with the UN Security Council Resolution 2735 as the next round of negotiations are scheduled on August 15th.

Prime Minister Meloni reiterated her firm support for the mediation led by the United States, Egypt and Qatar. In recognizing Israel’s right to self-defense, the Prime Minister underlined the importance of de-escalation at regional level, including the Israeli-Lebanese border where the United Nations intervention force, Unifil, is present, and where Italy has a leading role.

– Photo Palazzo Chigi –

(ITALPRESS).

Source: medNews

BRUSSELS (BELGIUM) (ITALPRESS/MNA) – The number of irregular border crossings into the European Union in the first seven months of 2024 fell by 36% to 113,400, according to preliminary data collected by Frontex.

The largest drops in irregular border crossings were observed on the Western Balkans and Central Mediterranean routes, by 75% and 64% respectively.

Frontex remains committed to protecting the EU’s external borders, with 2,900 officers and staff involved in various operations across Europe.

The Central Mediterranean route has seen a significant downward trend in recent months. In the January-July period, this migration route saw a 64% drop in crossings to 32,200.
?However, the central Mediterranean remains the most active migratory route to the EU. According to Frontex, this year’s decline can be attributed mainly to preventative measures by the Tunisian and Libyan authorities to disrupt traffickers’ activities. Arrivals from those two countries represent 95% of all migrants reported on the Central Mediterranean route.

– Photo: Ipa Agency –

(ITALPRESS).

Source: medNews

TRIPOLI (ITALPRESS/MNA) – A national reconciliation conference will be held in mid-October as part of the peace process efforts in Libya.
This announcement came during a meeting in Tripoli, where Congo-Brazzaville’s Foreign Minister, Jean-Claude Gakosso is heading a high-level African delegation on Libya.
The invitation to attend the event was extended to the Libyan Presidential Council member, Moussa al-Koni. al-Koni expressed appreciation for the efforts of Congo’s President Denis Sassou Nguesso and the African Union in supporting reconciliation and peace efforts in Libya.
The national reconciliation conference, initially scheduled for April 28 in Sirte, was postponed following the resignation of former UN envoy Abdoulaye Bathily.
The Congolese minister praised the Presidential Council’s efforts aimed at achieving stability and emphasised the importance of the council’s participation in making the upcoming conference a success.
The head of the Presidential Council, Mohamed al-Mnifi, discussed with the African delegation led by Minister Jean-Claude Gakosso the latest developments in Libya’s political situation and preparations for the national reconciliation conference to be held in Addis Ababa in mid-October.
-photo Ipa Agency –

Source: medNews

LA VALLETTA (MALTA) (ITALPRESS/MNA) – Malta has emerged as the top European destination for ship-to-ship transfers of Russian oil following the Greek navy’s decision to deter such activities in the Laconian Gulf. Since May 1, citing military exercises, the Greek navy has put out of bounds an area in international waters southeast of the Peloponnese islands, six nautical miles off the coast of Laconia, where Russian-linked tankers were stationed over the past couple of years. As a result, there has been a tanker exodus from Greek waters this summer to new sites across the Mediterranean and at a further distance. Kpler data shows that from May 1 to August 1, there were 122 ship-to-ship transfers recorded in various regions. The Malta area accounted for the majority, with 44% of transfers, followed by Augusta in Sicily with 11 transfers (9%), and Lome in Togo with nine transfers (7%). The ship-to-ship transfers of Russian oil off Malta increased by up 220% over the last quarter, just as Malta was fiercely opposing new EU sanctions aimed at limiting the practice, according to a report by maritime artificial intelligence company Windward AI.

– Photo Agenzia Fotogramma –

(ITALPRESS).

Source: medNews

LA VALLETTA (MALTA) (ITALPRESS/MNA) – North African countries like Tunisia are facing serious climate change challenges, threatening not only the supply of drinking water but also the socio-economic stability of the country. This summer, the Tunisians are facing severe crises with chronic water shortage impacting daily life; from drinking water to agriculture and industry. Tunisian citizens are taking to the streets, voicing their dismay and anger through increasingly frequent protests. The country witnessed a significant surge in protest movements only last month, with a 15% increase from the previous month. The region of Gafsa emerged as the protest epicenter, followed closely by Mèdenine, Jendouba, Kairouan, and Nabeul. Hundreds have voiced their discontent through sit-ins and road blockages, protesting against recurrent water cuts. This crisis has not spared the agricultural sector, particularly In the northwest of the country, farmers protested for the lack of irrigation water, jeopardizing their crops. This alarming situation is part of a broader pattern of water stress affecting North Africa, where dwindling water resources pose an existential challenge to local populations and economies. In addition, the issue of water crises is not unique to Tunisia. Neighboring countries like Algeria, Morocco, and Libya face similar challenges, exacerbated by climate change and sometimes inefficient water resource management. This critical situation threatens access to potable water for the populations and food security and economic stability in the region.

– Photo Agenzia Fotogramma –

(ITALPRESS).

Source: medNews

LA VALLETTA (MALTA) (ITALPRESS/MNA) – Almost 23% of energy imported to Malta through the interconnector that links the island to the Italian energy grid in Sicily originated from coal-fired power stations in 2023. This is double the from the previous year’s 12% share of imported electricity. In terms of carbon emissions and impact on climate change, coal is considered to be the dirtiest of all fossil fuels. Fossil fuels – coal, gas, and petroleum – accounted for around 85% of the interconnector’s energy, a slight drop of one percentage point over 2022. In 2023, Malta imported less electricity produced from natural gas, down from 69% to 58%, and more from coal. Natural gas is estimated to emit 50-60% less carbon dioxide when combusted by new and efficient plants, compared to emissions from a coal-burning plant. Significantly, Malta imported three times as much energy from coal-fired power stations than from renewable energy sources (7.3%) through the interconnector, staying at the same level in 2022 after dropping from 11% in 2021. Overall, Malta has registered a second consecutive increase in carbon emissions up from 388 grams of carbon dioxide per kiloWatt-hours in 2021 to 391gCO2/kWh in 2022 and to 396CO2/kWh in 2023. Maltàs energy supply depends on a liquefied natural gas plant (LNG) as well as an electricity interconnector that provides energy from the European mainland by subsea cable from Sicily. Natural gas used in Maltàs power stations accounted for 69% of the energy mix, up from 68% the previous year. A second interconnector linking Malta to the TERNA 220kV substation in Ragusa has already been approved by the Maltese planning authority. The second interconnector is deemed essential to ensure that Malta has enough energy to cater to its increased population, the electrification of its car fleet, and to sustain current levels of economic growth. For the second consecutive summer, Malta is facing an interrupted supply of electricity to households and businesses.

– Photo Agenzia Fotogramma –

(ITALPRESS).

Source: medNews

LA VALLETTA (MALTA) (ITALPRESS/MNA) – A recent Eurobarometer survey has highlighted the Maltese population’s strong optimism regarding the future of the European Union, setting them apart from their European counterparts. The survey, conducted between 25 June and 2 July 2024, sampled 505 Maltese citizens. An overwhelming 75% of Maltese respondents expressed optimism about the EU’s future, with only 22% voicing pessimism. This places Malta among the most positive member states, contrasting sharply with countries like France, the Czech Republic, and Hungary, where citizens showed the highest levels of pessimism.
However, the Maltese are not blind to the challenges facing the EU. The survey identified three primary concerns among Maltese citizens: the ongoing war in Ukraine, irregular immigration, and the high cost of living.
Looking ahead to the next five years, while many Maltese expressed concern about continental security, the majority believe that democracy and the economy will remain robust during this period. 66% of respondents expressed worry about EU security over the next five years.
When asked about the EU’s strengths, Maltese respondents were among the most likely to cite respect for democracy and the rule of law, as well as relations between Member States. This aligns with the nation’s generally positive outlook on the Union.
48% of Maltese agreed that the EU should address environment and climate change concerns sooner rather than later

foto: Agenzia Fotogramma

(ITALPRESS).

Source: medNews