The Malta Employers’ Association has welcomed the news that the government has managed to achieve a surplus in its budget.
The association said that in its memorandum to the political parties before the last election, it had placed fiscal consolidation as a major target to government, and the fact that the debt/GDP ratio and the fiscal deficit has been reduced due to economic growth is positive news.
However, the MEA stressed that this trend needs to be sustained, and the reduction in capital expenditure is of concern.
“Present and future governments need to take measures to stabilise recurrent expenditure, which is still on the rise to the tune of seven per cent per annum, and this is one of the main reasons that the association is critical of the increase in employment in some areas of the public sector in a situation which is close to full employment,” it said.
The MEA said the sustainability of a balanced or surplus budget depends on the governance of public funds and on economic growth in the private sector to sustain the increased demands of services such as health and education that are provided by the public sector.
New Chamber of Commerce president
Frank Farrugia has been elected president of the Malta Chamber of Commerce, Enterprise and Industry. He was deputy president of the Chamber since 2015 and vice president for the preceding two years.
Mr Farrugia said he was honoured to take the baton from “a tireless outgoing president [Anton Borg] who enjoyed the respect of the business community as well as the country’s political leaders”.
He said his presidency will aim to maintain the Chamber’s leading role in the representation of business, and will seek to face the new challenges of the times.
The new Chamber president is owner and managing director of Alphacom Int. Services Co Ltd, a company specialising in the supply of textiles, industrial sewing machines and related equipment, as well as Alcom Enterprises Co Ltd, which specialises in the supply in of professional tools, garage equipment, engineering solutions, exhaust extraction systems, industrial maintenance and treatment chemicals, industrial plant and heavy equipment, ROs and water treatment technology. Besides the Maltese market, the group also exports and offers its services to companies in north Africa.
Mr Farrugia is also a founding member of the Libyan-Maltese Chamber of Commerce and has served as its president.
Atlas launches improved AXA health and dental benefits
Atlas Healthcare clients can now enjoy improved benefits to their health insurance policies. The various improvements will benefit clients across all plans – Private Clinic, Private Hospital, and International.
Improvements for Private Clinic Plan members include an increase in all benefits for in-patient, daycare and outpatient treatment. A separate benefit has also been introduced for outpatient PET, MRI and CT scans. This benefit was previously part of the outpatient specialist consultations and diagnostic procedures benefit.
Hospital and International Plan members will now benefit from the new Second Medical Opinion service, which gives clients access to a comprehensive evaluation, should they have a serious medical problem. This includes the provision of a written second opinion report and treatment plan by international expert specialists.
International Plan clients will benefit from an increased routine maternity cash benefit. AXA has also increased the annual limit for the family doctor benefit for all plans.
Subscribers to the AXA Malta Corporate Dental Range – the only dental insurance plans available for companies in Malta, will also have improved benefits. This cover ranges from increased benefits for routine treatment like scale and polish, and a new CT scan benefit under dental x-rays. Benefits for restorative dental treatment such as fillings, crowns and bridgework have also been improved.
Temporary relocation of BOV Preluna Towers branch
Bank of Valletta’s Preluna Towers branch is temporarily closed for urgent refurbishment works and has been relocated to 12, Triq ix-Xatt ta’ Qui-si-Sana, Sliema. Only non-cash transactions will be carried out from the temporary premises. An extended service will continue to be offered from the new premises every Friday between 4.30pm and 7pm.
Customers are encouraged to make use of alternative digital channels including the ATM and Nightsafe Deposit Facility, both of which will remain accessible from their current location at Preluna Towers.
Other BOV ATMS in the vicinity are located in Dingli Street, The Point Shopping Mall and High Street and at other bank branches in the area.
The telephone numbers and e-mail addresses of BOV personnel deployed at the branch remain unchanged.