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Clyde Caruana Warns Energy Subsidy Removal Risks Economic Catastrophe
Finance Minister Clyde Caruana has warned that scrapping energy subsidies could trigger an economic catastrophe for Malta, as the country's subsidy bill and deficit both look set to climb.
Finance Minister Clyde Caruana has warned that removing energy subsidies could lead to an economic catastrophe for Malta.
Caruana revealed that the country is on track to spend more on subsidies this year than it did at the height of the Ukraine war, when energy costs surged globally.
He also noted that the government deficit is expected to rise, raising questions about the long-term sustainability of the current subsidy model.
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