Malta prepared to face wave of challenges - PM

Malta prepared to face wave of challenges - PMMalta is prepared to face the wave of challenges that are approaching thanks to a number of reforms being implemented by the government, Prime Minister Lawrence Gonzi said yesterday.

He was speaking to reporters before a meeting with the Malta Council for Economic and Social Development (MCESD), held at Castille in Valletta, aimed at discussing several economic issues. The meeting was also attended by Parliamentary Secretary Chris Said.

MCESD chairman Sonny Portelli called for more dialogue with the social partners and for decisions to be based on expert advice and research.

He said the hike in the price of oil, inflation, the need for higher productivity levels, and investment in alternative sources of energy, were on the council's agenda.

Mr Portelli also spoke about the need for flexsecurity - the balance between flexibility and competitiveness when it comes to workers' conditions and health and safety.

He said the economy needs to grow by more than four per cent a year if it is to remain competitive by 2020 and 2025.

The government's rent reform proposal would be beneficial in the long term but would affect different areas in various ways. He called for more discussions on this area.