READ Joseph Muscat’s Economic Predictions Here:

Former Prime Minister Joseph Muscat recently presented the government with a forecast on how Malta’s economy could evolve in the wake of the COVID-19 pandemic and Lovin Malta is publishing this document in full.

In his nine-page report, which was drafted on 24th April and focuses mainly on the retail and tourism sectors, Muscat laid out four potential economic scenarios.

Ranging from mild to severe, the predictions depend on the world’s ability to restrain the pandemic over the coming weeks and months.

Muscat predicted rents will drop due to a reduced demand for shared accommodation and said financial and professional services, such as legal, accountancy, rental and consultancy activities, will take a hit next year due to the fact that firms tend to cut down on this sort of expenditure after a downturn.

Muscat was Prime Minister of Malta between 2013 and 2020, where he presided over a period of record economic growth. However, he was forced to resign before his term was up after his chief of staff Keith Schembri was implicated in the murder of journalist Daphne Caruana Galizia.

What do you make of this economic forecast?