Valletta

Għal min bħali m’għadux jidħol ta’ spiss il-Belt, meta jagħmel hekk jintebaħ malajr li l-post qed jibdel il-karattru tiegħu. Żgur m’għadhiex il-Belt tas-snin sittin jew sebgħin tas-seklu l-ieħor: l-aktar jekk tqis iż-żona ta’ bejn id-daħliet tal-“bieb” ewlieni u ta’ Kastilja, sal-Palazz.
Ma jagħmilx sens tistaqsi l-bidla hix għall-aħjar jew għall-agħar: kull bidla ssegwi l-ispirtu taż-żminijiet u l-gosti tal-ġenerazzjonijiet li jinbidlu. Il-bidliet isiru bil-mod u mhux kollha f’salt. Imbagħad jasal mument fejn bl-effett kumulattiv tagħhom jidher li l-kumpless kollu nbidel.
Fil-libsa tal-lum, ssib firxiet usa’ għal dawl u moviment, sens aqwa ta’ rilassament, stabbilimenti aktar miftuħa għall-ħars minn barra.
Li ma jogħġobnix hu xi ħaġa li nimmaġina li l-aktar togħġob lil ħaddieħor: naqas it-tferfix fit-toroq tal-“popolin” Malti, u dan mhux minħabba l-fawra tat-turiżmu. Stajt kont qiegħed fi kwalunkwe belt oħra qadima, ċkejkna u provinċjali tal-Belġju jew Franza. Imma forsi għal dan mhux il-bidliet tal-Belt jaħtu, daqskemm id-drawwiet importati mill-kummerċ globalizzat.
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Kapitali, kurrenti
Ikun utli dibattitu publiku dwar ix-xejriet fl-ispiża publika bejn kurrenti u kapitali, illum u għas-snin li ġejjin. Ta’ spiss wisq, tkun l-ispiża kurrenti li ġġorr in-nefqa publika ’l quddiem, u dik kapitali, għall-investiment, tbati.
Fl-aħħar snin, l-investiment publiku ma majnax minħabba li kienu deħlin il-fondi fuq proġetti mill-Unjoni Ewropea li dejjem jaslu fi tmiem ħames snin jew kemm ta’ tħejjija għalihom, u investiment varju ieħor tal-gvern li mhux se jirrepeti ruħu.
Kif ikun ippjanat li l-bilanċ se jinżamm bejn iż-żewġ fonti ta’ spiża hi ħaġa ta’ interess strateġiku fil-pajjiż. Hu minnu li l-informazzjoni mogħtija toffri skop aktar tard għal kritika politika jekk din jew dik il-mira ma tinżammx. Imma dik hi n-natura tad-demokrazija.
Fl-Ewropa llum, il-livelli ta’ investiment publiku tbaxxew sew. Dibattitu xieraq dwar ir-raġunijiet għal dan għadu nieqes.
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X’valur?
Bl-ewro kif qed japplika għall-ekonomija Malta, għandna valur ta’ munita “baxx” jew “għoli” wisq?
Bl-ebda mod ma nistgħu ninfluwenzaw il-valur tal-ewro minkejja li din hi l-munita “tagħna”. Imma tajjeb li nkunu nafu kif fiċ-ċirkostanzi eżistenti, dan il-valur qed jaffettwana mil-lat kompetittiv.
Iċ-ċifri jagħtu dehra mħawda.
Jekk tħares lejn l-indikaturi tal-inflazzjoni, juru li b’mod ġenerali din hi ogħla mill-medja Ewropea, li jista’ jfisser li l-valur tal-ewro għall-kuntest ekonomiku Malti qiegħed baxx.
Jekk tifli l-indikaturi tal-produzzjoni industrijali, tista’ tikkonkludi li l-ewro għal Malta jagħti għall-għoli.
Bħalissa, l-indikaturi tat-turiżmu x’aktarx li ma joffru l-ebda għajnuna fuq dil-kwistjoni għax das-settur qed jibbenefika bil-kbir mill-gwaj tal-kompetituri tagħna fil-Mediterran.

English Version – Valletta

People who like me, no longer spend time in Valletta, will immediately, once they visit, realize that the city’s character has changed. It isn’t any more the city of the sixties and seventies decades of the past century – especially if one considers the area between the two main entry points of City gate and Castille, and the President’s palace.

It hardly makes sense to ask whether the change of character is good or bad: change reflects the zeitgeist as generationsadopt different tastes and values. Also, changes take place slowly, not all at once. Then comes the moment when with their cumulative effect, it becomes evident that the whole complex has undergone a radical change.

Today’s format provides wider spaces for light and movement, a heightened feeling of relaxation, establishments that are more open to outsiders looking in.

A development I dislike is probably quite pleasing to most others: one misses the “popular” bustle of a Maltese crowd, not caused to be sure by the bulge in tourism. You could be in any other old, smallish, provincial city in Belgium or France. However one cannot blame this on the City’s change of character, as much as on the attitudes and customs brought over by globalised trade.

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Capital vs recurrent

A public debate about present and future trends in public expenditure, differentiating between capital and recurrent flows, would be worthwhile. Too often, current outlays carry forward the thrust in public expenditure while investment commitments are allowed to decline.

In past years, public investment here has not decreased, due mainly to the arrival of project funds from the EU which always bunch towards the end of a five year preparatory period or close to that, and various other one-off investments by government.

There is a strategic national interest in the balance that is planned between the two major heads of spending. It is true that information that is published about this, affords space at a later stage for political criticism when some target or other is missed. But that is in the nature of democracy.

In Europe today, the levels of public investment have dropped significantly. A proper debate about the reasons why is overdue.

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Uunder/over valued?

As it applies to the Maltese economy, is the euro under or over valued?

There is no way we can influence the euro’s rate of exchange although it is the currency we use. However it would be useful to know how in prevailing circumstances, its value is affecting our competitiveness.

Available statistics seem to be giving mixed pointers.

Price indices show that generally, inflation here is higher than the European average, which could mean that given the Maltese economic context, the euro is undervalued.

On the other hand, a look at industrial production indicators might lead to the conclusion that the euro is trending on the high side.

Meanwhile tourism indicators can be of little help in this area, since the sector is benefitting greatly from the misfortunes of our Mediterranean competitors.