Malta: Four-fifths of IIP funds channeled to rescue schemes

The Times quotes Finance Minister Edward Scicluna who told social partners that Malta’s GDP is forecasted to fall by 5.4 percent this year before rebounding by 3.9 percent in 2021. Scicluna revealed that 80 percent of the IIP fund is being used to soften the economic blow.

A second report says that the former PN mayor of Lija Ian Castaldi Paris is in pole position to win the parliamentary seat to be vacated by Chris Cardona today. Sources within the Labour Party say that Castaldi Paris is also eyeing Cardona’s PL deputy leadership position.

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