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‘Uncertainty And Instability Is Killing Maltese Businesses’ As Growing Number Of Shops Report 50% Drop In Sales

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Malta’s economic interest has been set aside for too long with a growing number of companies reporting up to a 50% drop in sales, a business lobby group said.

The GRTU Malta Chamber of SMEs reiterated its call for Prime Minister Joseph Muscat to resign as it shared the results from a study it carried out in over 50 different economic sectors in Malta.

Among its findings is the fact that 65% of respondents across Malta said that business has gone down over the last two weeks, with 15% of these indicating an over 50% drop in sales.

The GRTU said this study showed the “devastating impact these two weeks of instability has brought.”

“The figures that we are releasing from the survey paint a very worrying picture. Our message is not targeted at protestors but at those in power that dragged and are still dragging their feet. This is the instability that you have caused,” they said in a statement yesterday.

“As an SME Chamber we carry out frequent studies to assess the going of business,” they continued. “Sometimes the results are more positive and others they are more negative but never have our results shown such a sharp dip. While being responsible in our communication, we must be clear, as some still choose to live in disbelief.”

“Business sales have plummeted and this happened everywhere, not just in Valletta.”

The Chamber said that Maltese people had pulled the brakes on essential items like medicine, with 46% of businesses saying they will be reconsidering, postponing or cancelling their investment plans for next year.

“Malta is going through a time of crises. No, we will not understand how politics goes. No, we will not understand that changing a Prime Minister is a process. Malta has been ridiculed long enough. The Prime Minister needs to step down now,” they ended.

In the survey, Maltese business-owners were asked to comment about the ongoing situation in Malta – you can find some of their individual responses below.

  • We need stability now
  • Prime Minister should resign now
  • Good Governance
  • Better image for our country on an international level
  • Clean sweep. Situation cannot remain as is, this is affecting our business and lives.
  • The law isn’t equal for everyone
  • We need an honest and hardworking government, that is colour blind.
  • Malta has been given a bad reputation this will be affecting tourism and as a result all of Malta

What do you think of the survey results?

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