PM rules out early election, cites geopolitics as only caveat
Prime Minister Robert Abela has ruled out the possibility of an early general election, insisting that his mandate remains a full five-year term. He said there were no circumstances at present that would justify returning to the polls ahead of schedule. His only caveat related to potential geopolitical disruptions which, he said, could create a situation where seeking a fresh mandate becomes a matter of national interest. Abela also confirmed that he has held discussions with Opposition leader Alex Borg on the appointment of a new chief justice and auditor general, with both positions set to become vacant early next year. As both appointments require a two-thirds parliamentary majority, cross-party agreement will be necessary. (Maltatoday)
New Gozo Channel ferries to boost capacity, but delivery due in 2029
Connectivity between Malta and Gozo is set for a significant upgrade through a €130 million investment programme, although two newly commissioned passenger ferries will only be delivered in 2029. The government said one vessel will be designed to serve peak demand, carrying up to 250 vehicles per trip compared to the current fleet’s 150, at a cost of €65 million. A second, smaller ferry will carry 75 vehicles and cost €45 million. In parallel, three existing Gozo Channel vessels will be retrofitted over six years at a cost of €20 million to improve efficiency. One will be repurposed as a dedicated cargo ferry, operating between Malta Freeport, Ras Ħanżir and Mġarr Harbour. This is expected to significantly reduce heavy truck traffic on Malta’s roads during peak periods. (TImes of Malta)
Government debt reaches €11.2bn, remains below EU threshold
General Government debt stood at €11.21 billion at the end of September, equivalent to 46.5 per cent of Gross Domestic Product, the National Statistics Office said. This marked an increase of just over €1 billion when compared to the same period last year, driven mainly by higher central government borrowing. Long-term debt securities increased by €784.8 million, while short-term securities rose by €202.7 million. Loans also recorded modest growth, although currency and deposits declined slightly. Local government debt remained marginal at €2.3 million. Government-guaranteed debt amounted to €951.3 million, equivalent to 3.9 per cent of GDP. Despite the increase, Malta’s debt ratio remains comfortably below the EU’s 60 per cent benchmark. (The Malta Independent)
