Prime Minister Robert Abela has pledged more measures to tackle inflation as part of the government’s fight against the cost of living.

In his end-of-year message to the nation, Abela stressed that the government should not be the one to create inflation so it will continue working with stakeholders to tackle the cost of living.

“We cannot be indifferent to the challenges that families are facing. All the necessary steps must be taken to ensure no one falls behind,” he said.

Abela said the country was only in a position to do this because its economy kept going at a strong pace in 2023, with European experts placing Malta as the best in Europe in terms of job creation and wealth creation.

Abela said Malta was “the only country” that did not implement harsh policies because “we do not believe austerity works”. Instead, the government chose to support families and businesses, protecting them from the wars and cushioning the impact of international energy prices.

“We have been told that we are being too generous. To this, we will continue to answer that success will only be achieved through investment, and not austerity,” he said. Other economies have stagnated because of high inflation and austerity measures.

“We can look forward with confidence towards the new year. Not to rest on our laurels, but rather, to invest even more in our country and achieve more success. We will start a new year, despite all the challenges that surround us, with keen optimism. Our country will keep moving forward,” Abela pledged.

“Together, we will continue working to deliver the aspirations of our people, for an even better quality of life. Regardless of the particular international scenario we currently face, we have, and we will continue providing stability, security and peace of mind,” he added.

The prime minister also spoke about positions Malta adopted on the international front, saying that while Malta was neutral, it was not indifferent to any suffering. He said Malta lobbied for peace and against aggression, emerging as “advocates for dialogue”.   

As he looked back at 2023, he said more investment would be made “in a sustainable way” in “people’s priorities”.

He advised against people speaking disrespectfully about foreigners as though they were people of lesser dignity or value. He said they were here because the country was experiencing new realities such as an ageing population.

Abela said 2024 will bring about an intensification of reforms and change, with important decisions for the country to continue moving forward.