Our economy is said to be booming, with construction permits galore (for full employment and feel-good factor), the Budget deficit narrowing (and claimed to be soon in the black) and property prices reportedly rocketing. Even insolvent Air Malta is recruiting staff (by the way, would you buy shares is such a company?) to confirm the full employment ticket.
On the other hand, we have the Opposition claiming Malta’s “consolidated debt” has increased by €1 billion in only a few years.
Doesn’t make sense to me but, then, I was never brilliant at maths. However, if one simply used a household budget asan analogy, a family where all members are working, but have increasing debts, would mean they are spending more than they are earning – not exactly conducive to a stable andhappy future.
We used to be told that increasing national debt means more money needs to service the debt rather than to improve the welfare state. Do these simple maths no longer apply?