DOSSIER Ser Nittrattaw EDITUR: L-Ekonomija Fiċ-Ċirkostanzi Preżenti

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DOSSIER Ser Nittrattaw EDITUR: L-Ekonomija Fiċ-Ċirkostanzi Preżenti D IER O SS DOSS#01 IER EDITORJAL#WERREJ ĦARĠA NUMRU 1 - SETTEMBRU 2020 Fil-MUMENT TAL-PROVA ed ngħixu fost l-aktar żminijiet diffiċli. Għandna għadu. Nafu Qx’jismu. Iżda m’aħniex narawh. Ma nafux fejn ser jattakka u sa fejn ser iwassal. Il-Covid-19 ħalla mhux biss għexieren ta’ eluf bla ħajja, iżda ħarbat l-andamenti ekonomiċi BEJN IL-LINJI: u magħhom ġab problemi li L-EKONOMIJA TAN-NIES għalissa ma nistgħux nibdew 02 nikkwantifikawhom għax abbli l-istampa għadha ferm lura milli STATISTIKA - TAQBEL LI tibda tingħaqad. Iżda tal-fehma li 12 JIDĦOL L-ABORT FIL-PAJJIŻ? l-akbar ħsara li għamel dan il-virus hija fuq is-saħħa mentali ta’ kull JONQOS IŻJED NISA BIEX wieħed u waħda minna. 18 IDURU MAL-MEJDA F’DOSSIER ser nittrattaw EDITUR: l-ekonomija fiċ-ċirkostanzi preżenti. SENA DELIKATA GĦAS-SISTEMA PRIVATE WEALTH | FUNDS & ASSET MANAGEMENT | INSURANCE & REINSURANCE Melvic Zammit Iżda fuq kollox ser nitkellmu wkoll FINANCIAL INSTITUTIONS | CAPITAL MARKETS | FINTECH & BLOCKCHAIN – [email protected] 22 EDUKATTIVA, GĦAT-TFAL U L-PAJJIŻ ma’ min qed jiltaqa’ wiċċ imb wiċċ ma’ min qed iħoss il-morsa tagħfas QARI TAL-PROVI: Daniela Attard Bezzina fuqu f’dawn iż-żminijiet diffiċli. Il- ĦIDMET MONSINJUR karikatura tal-faċċata tirrappreżenta Disinn: 30 VICTOR GRECH dak li Malta, din il-mara sbejħa, Ryan Bezzina [email protected] qed iġġarrab bħalissa. Lil hinn mill- IL-PRESIDENT EMERITU effetti tal-imxija, fadlilna x’naqdfu Karikatura tal-faċċata u f’paġna 3: MARIE LOUISE COLEIRO PRECA f’ħarsien adegwat għall-ambjent, Robert Caruana 32 diskussjoni serja dwar l-abort u – WARA L-PRESIDENZA Reklamar: ħidma iżjed assertiva biex l-appelli [email protected] għall-ugwaljanza bejn is-sessi ma +356 2590 0200 IL-KANĊELLERIJA FIL-PALAZZ jibqgħux biss fuq il-karta. TAL-INKWIŻITUR Stampar u Pubblikazzjoni: 42 Union Print Co. Ltd, Workers’ Memorial Building, ĠIMGĦAT BOGĦOD MINN ELEZZJONI M It-Tielet Sular, Triq Nofsinhar, Valletta +356 2590 0200 48 PRESIDENZJALI FL-ISTATI UNITI Your structuring opportunities start here financemalta.org 1 BEJN IL-LINJI: Minn Melvic Zammit Sa Frar li għadda, xahar qabel faqqgħet il-pandemija tal-Coro- hemm żieda daqs fl-għoxrin sena ta’ qabel meħudin navirus, l-industrija tat-turiżmu f’Malta kienet għaddejja flimkien. Fl-aħħar seba’ snin in-numru ta’ turisti rdoppja b’ritmu mgħaġġel. Ċifri tal-Uffiċċju Nazzjonali tal-Istatistika għal kważi 2.8 miljun turist. Kien għalhekk li l-impatt tal- L-EKONOMIJA turi li fi Frar ġew Malta kważi 146,000 turist – 21,000 turist coronavirus kien xokk qawwi. Din hija industrija li kienet aktar minn Frar tas-sena l-oħra. qed tespandi b’mod qawwi biex tlaħħaq mad-domanda, u f’daqqa waħda spiċċat b’rati ta’ okkupanza baxxi ħafna. L-2020 mistennija tkun l-agħar sena għat-turiżmu mad- Fil-fatt statistika riċenti tal-Eurostat tindika li s-settur kellu war id-dinja, inkluż Malta, meta dan is-settur huwa wieħed 75% anqas attività f’Ġunju mqabbel ma’ Frar li għadda. mill-pilastri ewlenin tal-ekonomija. Għalkemm pajjiżi barranin seta’ kellhom ftit vantaġġ fuq TAN-NIES AG: Is-settur turistiku huwa wieħed importanti għal pajjiżna, Malta għax għandhom turiżmu intern relattivament aktar anke jekk Malta għandha ekonomija ferm diversifikata. qawwi minn f’pajjiżna, xorta jidher li kienu ftit dawk li l-viruses jikkaġunaw Minbarra li jiġġenera dħul barrani, is-settur għandu marru għal btala. Dan jirrifletti l-fatt li f’kull pajjiż bħalissa firxa wiesgħa u hemm telf qawwi ta’ impjiegi, bir-rata ta’ qgħad madwar il-pandemiji. Iżda kull jiggarantixxi l-Unjoni Ewropea titla’ minn 6.5% għal 7.2% f’ħames xhur. d-dħul ta’ ħafna Biex it-turiżmu jirpilja mhux biss irid ikun hawn soluzzjoni darba jiddettaw forma familji b’mod għall-problema medika, iżda trid ukoll tirkupra l-ekonomi- indirett. Fl- ġdida tad-dinja. Apparti ja Ewropea. Huwa għalhekk importanti l-pjan maqbul aħħar snin mill-Gvernijiet u l-Kummissjoni Ewropea li ser iwassal I konna rajna t-telf tal-ħajjiet, l-imxija għall-akbar stimulu finanzjarju li qatt ingħata fl-istorja. l-ammont Daqstant huwa importanti wkoll li fuq livell nazzjonali, kull ta’ turisti tal-Covid-19 ħalliet ħerba gvern Ewropew, inkluż dak Malti, jibqa’ jsostni l-ekonomi- jikber b’rati ja permezz ta’ miżuri fiskali. Jekk il-qgħad jieqaf jiżdied ferm għolja, fuq is-saħħa mentali u terġa’ tidħol il-kunfidenza, it-turiżmu jerġa’ jirpilja. Im- tant li f’ħames portanti li sakemm dan iseħħ, l-operaturi turistiċi jieħdu snin kien ta’ ħafna individwi u l-okkażjoni biex iħarsu mill-ġdid lejn il-mudell tal-operat l-ekonomiji. tagħhom. Huwa importanti ħafna li jitjiebu l-ħiliet tal-ħad- diema ħalli nkunu nistgħu ntejbu l-prodott turistiku. L-in- DR AARON GRECH, DR PHILIP VON vestiment fil-lukandi jrid ikun sostnut b’investiment fit-tis- Chief Economist tal-Bank BROCKDORFF, biħ tal-lokalitajiet u titjib fl-infrastruttura. Ċentrali ta’ Malta il-Kap tad-Dipartiment tal-Ekonomija fl-Università PvB: Meta wieħed jikkunsidra l-effetti diret- ta’ Malta ti u indiretti, il-kontribut tat-turiżmu f’pajjiżna huwa ta’ madwar 17%. Evidenti li l-imxija was- slet biex dan is-setter jieqaf ħesrem għal Ma’ DR AARON GRECH, Chief Economist tal-Bank Ċentrali ta’ numru ta’ xhur u Malta, u DR PHILIP VON BROCKDORFF, il-Kap tad-Dipartiment kien biss wara Lulju li reġa’ tal-Ekonomija fl-Università ta’ Malta, ser nanalizzaw l-impatt fetaħ għat-tur- fuq it-turiżmu, it-tbassir tal-aġenziji ta’ kreditu fuq l-andament isti. Madank- tal-ekonomija lokali, l-effetti tal-pakketti finanzjarji fuq ir-rota ollu għadna ‘l bogħod ħafna milli ekonomika, u fuq kollox jekk il-gvern hux ser ikun kostrett li jżid nilħqu livelli li konna taxxi ġodda biex jagħmel tajjeb għall-għajnuniet finanzjarji li qed mdorrijin bihom. Għalhekk meta jagħti fi żmien fejn ħafna setturi ma jafux fejn ser jagħtu rashom. jkollok settur bħat- 2 3 BEJN IL-LINJI: il-livell ta’ qgħad qed jgħolli rasu u dan hu ta’ tħassib PvB: Kollox jiddependi minn sa meta se tinstab soluzzjoni għall-Unjoni Ewropea fejn spikkat in-nuqqas ta’ azzjoni medika. Jekk soluzzjoni tinstab is-sena d-dieħla, possib- kollettiva fir-rigward tal-miżuri restrittivi li ttieħdu minn bilment fl-ewwel xhur, naħseb li r-rota ekonomika tibda stati individwali. Dan wassal biex ħafna turisti Ewropej ddur f’setturi bħat-turiżmu u l-ivvjaġġar. Għalhekk mhux jaqtgħu qalbhom milli jivvjaġġaw. Jidher li din is-sitwazz- eskluż li nilħqu livelli ta’ tkabbir ta’ madwar 4 jew 5% fl- joni se tkun parzjalment rimedjata f’Ottubru iżda fl-opin- 2021, iżda qed ngħixu f’mument ta’ inċertezza u dment joni tiegħi, il-Kummissjoni Ewropea kellha tkun ferm aktar li din l-inċertezza tibqa’ huwa impossibbli li tagħmel pre- proattiva biex għall-anqas tinsisti mal-Istati Membri biex viżjonijiet. ikun hemm aktar kordinament dwar il-miżuri li ttieħdu Aktar milli nħarsu lejn previżjonijiet, huwa ferm aktar im- s’issa. portanti li jkollna direzzjoni ekonomika fuq bażi sostenib- bli u jitfasslu miżuri li jgħinu biex ikollna tkabbir ekono- miku konsistenti mal-Programm ta’ Rkupru u Reżiljenza li L-AĠENZIJI TA’ KREDITU mhumiex ipinġu stampa daqshekk minnu Malta se tingħata fondi Ewropej. Dan il-programm negattiva dwar l-andamenti ekonomiċi għal pajjiżna. Kif tin- huwa rilevanti ħafna iżda għandna nibdew minn issa biex terpreta l-previżjonijiet? ninvestu aktar fl-ekonomija diġitali u fil-Green Deal, u AG: Il-Bank Ċentrali jżomm djalogu kontinwu mal-aġenziji ta’ fl-istess waqt insaħħu l-produttività fis-setturi ekonomiċi kreditu, u l-istampa li qed jindikaw hija bbażata fuq analiżi kollha, speċjalment fis-settur tal-manifattura li jista’ jkol- rigoruża u serja. Ta’ min ifakkar li dawn l-esperti minbarra lu sehem kritiku f’ekonomija aktar reżiljenti għal xokkijiet li jsegwu lil Malta jkunu qed isegwu pajjiżi simili, u għal- ekonomiċi. hekk ikunu ferm aktar f’pożizzjoni li jinterpretaw dak li Il-kundizzjonijiet tal-ħaddiema, il-pensjonanti u l-kwalità qed jiġri f’Malta f’kuntest aktar wiesa’. tal-ħajja, inkluż fl-aspett ambjentali, jistgħu jitjiebu biss Bħala Bank Ċentrali aħna wkoll nagħmlu l-proġettazzjoniji- jekk inkomplu nsaħħu l-ekonomija permezz ta’ miżuri li et tagħna permezz ta’ mudelli ekonometriċi li żviluppajna għadni kif semmejt. L-isfida se tkun it-trasformazzjoni lejn maż-żmien, anke bl-għajnuna ta’ akkademiċi u ekonomisti ekonomija aktar sostenibbli u aktar reżiljenti. Din mhix se turiżmu li jintlaqat daqshekk ħażin ifisser tnaqqis fl-at- Il-mudell ekonomiku tagħna jiddependi ħafna fuq attività barranin. It-tbassir tagħna jsir bi djalogu mal-Bank Ċentrali tkun triq faċli, speċjalment wara snin ta’ tkabbir ekono- tività ekonomika f’pajjiżna. Dan jissarraf f’nuqqas ta’ ekonomika li ma timxix neċessarjament fuq linji sostenib- Ewropew, u allura jgħaddi minn proċess ta’ review rigoruż. miku straordinarju, u mhux eskluż li jkun hemm xi skossi dħul għall-investituri u l-ħaddiema f’dan is-settur. Mhux bli. Iżda kien dan l-istess mudell ekonomiku li wassal biex Fl-aħħar tbassir li għamilna wrejna li filwaqt li l-Prodott ekonomiċi u soċjali. Madankollu hi triq li rridu ngħaddu biss. Setturi relatati mas-settur turistiku, bħall-akkomo- insostnu l-ispiża fuq pensjonijiet, servizzi soċjali oħra, Domestiku Gross ser jonqos din is-sena, ħafna minn dan minnha. dazzjoni (apparti l-lukandi), ir-ristoranti, u l-ħwienet in- saħħa u edukazzjoni, u nfiq infrastrutturali. Jekk dan il- it-telf ser ikun irkuprat matul l-2021. tlaqtu ħażin ukoll u għalhekk dan wassal biex il-Prodott mudell jinbidel u nħaddnu mudell fejn is-sostenibbiltà Domestiku Gross jonqos sew, bil-konsegwenzi kollha li hi prijorità, dan irid jieħu ż-żmien tiegħu biex jitwettaq u Kif tinterpreta l-miżuri tat-TLIET GĦAJNUNIET FINANZJARJI li Aktar importanti minn hekk, aħna jirriżultaw meta l-konsum u l-investiment jonqos.
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