Image Source : NewsBook
The Central Bank of Malta has offered advice on how to save money by making subsidies more targeted, as part of its efforts to promote a strong and sustainable economy. According to the Central Bank’s acting governor, the key to building a safety buffer against economic shocks is to have a robust economy, and one way to achieve this is by optimizing the use of subsidies.
The Central Bank’s acting governor emphasized the importance of having a strong economy, which would provide a cushion against external shocks and enable the country to better withstand economic downturns. To achieve this, the governor suggested that the government should focus on making subsidies more targeted and efficient, rather than simply increasing the amount of subsidies available.
By making subsidies more targeted, the government can ensure that support is directed towards those who need it most, such as low-income households and vulnerable sectors of the economy. This approach would not only help to reduce waste and inefficiency but also enable the government to make the most of its limited resources.
The Central Bank’s advice on subsidies is part of its broader efforts to promote economic stability and sustainability in Malta. The bank’s acting governor has emphasized the need for prudent fiscal management and targeted support for the economy, in order to build a safety buffer against external shocks and ensure long-term economic growth.
By following the Central Bank’s advice and making subsidies more targeted, the government can take a crucial step towards building a stronger and more resilient economy. This, in turn, would provide a solid foundation for long-term economic growth and help to ensure that Malta is well-equipped to withstand any future economic challenges.
