GRTU says SMEs must drive GDP

The GRTU expects the government to give maximum importance to micro and small enterprises when presenting its Budget on Monday.

It said that while GDP is now growing again as a result of the growth in the economic performance of financial institutions and specialised personal services, GDPmust now be pushed forward through the growth of micro and small enterprises that represent 99 per cent of the more than 3,400 enterprises registered in Malta.

The GRTU wants an extended loan guarantee scheme to cover an extensive list of investments that will enable micro and small firms to renovate and re-engineer themselves through training and development and investment upgrade.

The GRTU wants to see progress in the development of the green revolution in Malta.

“The GRTU has invested directly proving that its commitment to the environment is not empty words. Now, further and stronger fiscal incentives must be given to encourage more growth in this sector and to make the green jobs available and within reach of those who seek them,” it said.

It said it expects Budget 2011 to finally approve the package of proposals advocated by the GRTU to create more environmentally friendly economic activities that make Malta’s localities grow and become really sustainable.

“Year in year out the GRTU has been making proposals to assist the development of economic activities in localities including back office work and more bed only tourist facilities. Now the government must produce the right incentives as proposed by the GRTU,” it said.

It said the government must do more much more to support private enterprise.