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More Than A Billion Euros Will Be Used To Keep Malta’s Energy Prices Stable

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Over one billion euros will be invested to ensure that energy prices in Malta remain stable as part of the 2023 Budget plan.

During a pre-Budget meeting with the General Workers’ Union (GWU), Prime Minister Robert Abela insisted that this budget will be a “defensive and ambitious” one with the aims to increase investment and bring more work.

Abela even tweeted about it.

General Secretary of the GWU Josef Bugeja said that, despite having the “lowest unemployment rate in history” there is still a thirst for more jobs from employers and a need to continue to strengthen the skills of workers on the islands.

Meanwhile, Abela stressed that the 2023 Budget will be the first of five that will build on each other to implement the work plan and fulfil all the promises.

This comes only days after Malta successfully negotiated a derogation from a European Commission proposal that imposes mandatory reductions in electricity consumption on member states.

Energy Minister Miriam Dalli acquired the exemption following negotiations in Brussels, she argued that it was “defending” national interests.

“Any mandatory reduction in electricity demand would have a negative impact on families and businesses,” the government said, noting this is the third derogation obtained in this sector.

Saying that “due to our island peculiarities, Malta should not carry this additional burden,” the island was able to get out of the mandatory EU-wide reduction plan.

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Ana is a university graduate who loves a heated debate, she’s very passionate about humanitarian issues and justice. In her free time you’ll probably catch her binge watching way too many TV shows or thinking about her next meal.

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