ARTICLE · 12 JULY 2020

COVID-19: Malta's Economic Recovery Plan

KPMG Malta

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After lifting most COVID-19 restrictions, Government presented the Malta financial package aimed at stimulating business and regenerating the economy.

MaltaCoronavirus (COVID-19)

KPMG Malta

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In a press conference held on 8^th June 2020, the Prime Minister
Dr. Robert Abela, Finance Minister Prof. Edward Scicluna and Minister for the Economy, Investment and Small Businesses Mr. Silvio Schembri rolled out a recovery package aimed at regenerating the Maltese economy post COVID-19. Such package follows the lifting of most of the COVID-19 restrictions effected last week. The economic recovery plan is based on three pillars;

Reducing business costs;
Stimulating domestic consumption; and
Directly supporting businesses.

Hereunder is a summary with selected highlights from this economic recovery package.

Reducing Business Costs

Rent subsidies: Businesses classified as Annex A and Annex B on Malta Enterprise's website will receive a one-time grant of up to €2,500.

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