Clyde Caruana visited the Malta Stock Exchange where he explained the important work that has been done and is being done to safeguard the capital markets at the time of the pandemic.
Minister Caruana said, “The economy is not only made up of human consumption but is also made up of capital markets. The repercussions for the economy if we do not take care of the capital markets are far greater than those of a recession. ” Minister Caruana praised the great work done on the Malta Stock Exchange especially during the last year which was characterized by a pandemic that created great challenges for companies. This entity has worked hard to closely monitor the requirements of companies listed on the Malta Stock Exchange in order to continue to honor their obligations. Minister Caruana emphasized the importance of this work continuing in the coming months. He said the worst thing a country could do in this regard was to instill a sense of fear in the financial markets because it would have a very negative impact on the economy. Minister Caruana said that the government, through this entity, will continue to work and follow closely everything that is happening in order to continue to give peace of mind to Maltese and Gozitan investors. For his part, the Chairman of the Malta Stock Exchange Joseph Portelli said that during the last years the entity has worked on no less than 70 projects or initiatives that have all been carried out with satisfaction. This is at the same time as the entity has reduced its operating costs. Mr Portelli mentioned that over the last five years the Malta Stock Exchange has returned to the Government of Malta some €18 million in taxes and dividends.