Abela stresses resilience and long-term vision at Labour Congress

Prime Minister Robert Abela used his address at the Labour Congress business breakfast on Wednesday to highlight Malta’s economic resilience in the face of global instability, while outlining a forward-looking vision focused on productivity, social wellbeing, and youth entrepreneurship.

Recalling discussions held six years ago between the government and the Malta Chamber of Commerce, Abela emphasised the importance of planning for the future even during periods of uncertainty. At the time, the world was beginning to grapple with the onset of the COVID-19 pandemic, a crisis that would go on to last over two years.

“Even when facing immediate challenges, we must continue thinking ahead,” he said, drawing parallels between past and present global disruptions.

He pointed to a succession of crises, including the Russian invasion of Ukraine and ongoing tensions in the Middle East, as evidence of an increasingly volatile geopolitical environment.

Against this backdrop, Abela defended the government’s policy of maintaining strong energy subsidies, noting Malta’s particular vulnerability due to its geographic isolation from mainland Europe. He contrasted Malta’s approach with that of countries such as the United Kingdom, which he said have struggled to sustain similar levels of support.

The Prime Minister stressed the importance of fiscal discipline, describing diligence and prudence as guiding principles of his administration. He argued that these have enabled reforms in social benefits and tax reductions, while keeping the deficit under control and safeguarding national wealth.

“Our robust economy is what allows us to withstand crises,” Abela said, adding that some countries are now seeking to replicate Malta’s economic model.

A key theme of the speech was improving quality of life. Abela said the government’s long-term ambition is not only to grow national wealth but also to ensure that Maltese and Gozitan families feel more secure and content. This vision is encapsulated in the government’s “Vision 2050” framework.

He also referred to a new legal initiative, “Intrapriża 16,” aimed at empowering young people. The framework will allow individuals aged 16 to 18 who have completed compulsory education to establish and manage their own businesses, removing previous legal barriers that prevented minors from doing so.

Abela concluded by noting the sense of cautious optimism at the congress, where participants are contributing ideas while remaining mindful of global challenges. He reiterated that sustained productivity will be essential to maintaining economic strength and delivering long-term prosperity.

Deputy leaders Ian Borg and Alex Agius Saliba also addressed the event

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