Morning Briefing
Malta’s strong GDP growth masks slowdown in high-value sectors – report
Malta’s economy grew by 6% in 2024, outpacing Europe, but PwC Malta warns of a shift from high-value sectors to lower-productivity industries. Professional services, ICT, and online gambling—once key growth drivers—are slowing or contracting, despite their high productivity (around €100,000 GVA per employee). Meanwhile, construction (6.1%), public sector (6.2%), and wholesale/retail (5.4%) are growing but with much lower productivity (€30,000–€35,000 per worker). PwC highlights a negative correlation between productivity and growth, raising concerns about long-term sustainability. With GDP growth expected to slow to 4% by 2025, the economy is increasingly reliant on tourism, real estate, and public spending rather than innovation-driven sectors. (Newsbook)
Government enhances grants for energy and water efficiency
Maltese households can now benefit from expanded government support for energy-efficient and water-saving solutions. The Energy Ministry and the Regulator for Energy and Water Services (REWS) announced new and improved schemes aimed at promoting sustainable living while reducing household costs. A key update includes a new grant covering 50% of costs (up to €700) for PV panels connected to water heating systems, allowing efficient energy use without affecting the PV meter cap. The heat pump water heater grant has increased to €1,400, while the solar water heater grant now covers 75% of costs (up to €1,400) plus a €500 maintenance grant after five years. Additional grants support cistern restoration, roof insulation, double glazing, and water filtration systems. (The Malta Indepednent)
Relationship issues leads counselling concerns at Richmond Foundation
For the first time in recent years, relationship issues surpassed anxiety as the most common reason for seeking counselling at the Richmond Foundation. In 2024, 28% of clients sought support for relational issues—both romantic and familial—followed by anxiety (16%) and low self-esteem (9%). Head of well-being Lynn Sammut noted a steady rise in relationship-related concerns since 2022, previously second to anxiety. She stressed the need for early emotional education to help children manage mental health challenges before adulthood. Encouragingly, suicidal contacts have declined, with 195 cases in 2024, down from 214 in 2023 and 391 in 2022. (Times of Malta)