At the Auberge de Castille, Prime Minister Robert Abela met with representatives of the Chamber of Commerce as part of a series of ongoing consultation meetings ahead of Budget 2027.
The Prime Minister noted that despite the international turbulence the world is going through, the Maltese economy has continued to show resilience. The latest European Commission forecast shows real growth of 4% in 2025, with growth forecast at 3.7% this year and 3.6% in 2027. This is while unemployment is expected to remain around 3%, while the services sector remains an important contributor to economic growth.
Here, Dr Abela stressed that this economic success is not the point of arrival, but rather the point of departure. He said that the challenge before us is that our economic model continues to develop towards increasingly sustainable growth, greater productivity, greater quality and greater added value. He mentioned that this is the direction driven in the Malta 2050 Vision, as well as in this government’s electoral programme.
In this context, Dr Abela stated that we must continue to invest in the digital transformation of the economy. He mentioned that Malta was among the first countries to adopt a national AI strategy in 2019, and that strategy is now being updated to reflect new technological realities and so that AI can also be used to strengthen the competitiveness of the private sector, among others.
The Prime Minister reiterated that the Government is committed to continuing to intensify its work to place greater emphasis on upskilling and reskilling.
He also mentioned how in an international context where energy markets are still volatile, our country is continuing to provide reassurance over stable energy prices.
Dr Abela concluded by saying that through dialogue between Government, businesses and social partners we can continue to build a more productive, innovative, digital and resilient economy, an economy that creates more opportunities and that is ready not only for today’s challenges, but above all for tomorrow’s opportunities.
During this meeting, a number of proposals that the Chamber of Commerce presented to the Government in the document called ‘Reset and Lead’ were discussed. The document is divided into immediate measures for 2027 and others aimed at throughout the legislature. At the same time, this document highlights the importance of an economic model that prioritizes productivity, added value, innovation, efficiency and quality of life.
Accompanying the Prime Minister for this meeting were Deputy Prime Minister Ian Borg, Ministers Byron Camilleri, Miriam Dalli, Jo Etienne Abela, Chris Bonett and Keith Azzopardi Tanti, together with the Head of the Secretariat of the Office of the Prime Minister, Mark Mallia.
