Issue link: https://maltatoday.uberflip.com/i/1406636
2.9.2021 6 NEWS 8/2021 ECONOMIC UPDATE THE Central Bank of Mal- ta's August Econimic Update shows that in July, the Bank's Business Conditions Index de- creased marginally compared with June, but increased on an annual basis as the econo- my continued to recover from the very low levels observed in 2020. European Commission sur- veys show that sentiment de- creased slightly compared to June, while remaining above its year ago level and its long- term average. Sentiment was positive in in- dustry and services as well as among consumers. However, it was negative in the construc- tion and retail trade sectors. The Bank's estimate of the COVID-19 Government Re- sponse Index – a composite indicator that summarises var- ious containment, economic and health-related measures introduced in response to the pandemic – fell at the end of July from a month earlier but stood above that reported in the euro area. Residential property transac- tions continued to be signifi- cant in July, with the number of final deeds rising on an an- nual basis, while that of prom- ise-of-sale agreements eased somewhat. In June, industrial produc- tion rose at a faster annual rate compared with a month earli- er. However, the volume of re- tail trade rose at a slower pace. The number of commercial permits rose slightly in annu- al terms while residential per- mits fell. The number of registered unemployed persons fell both when compared with May and also when compared with a year earlier. The unemployment rate re- mained unchanged at 3.6% compared with May, virtually at its pre-pandemic level, and well below its historical aver- age. The annual inflation rate based on the Harmonised Index of Consumer Prices (HICP) remained unchanged from May, at 0.2%, while that based on the Retail Price Index rose to 1.5%. The difference between the two measures of inflation re- flects technical factors relat- ed to the revision of HICP weights in 2021. The Economic Update also includes data on recourse to the moratorium on loan re- payments offered by domestic credit institutions to residents of Malta in response to COV- ID-19. The value of household and corporate loans subject to a moratorium at the end of June edged down further, to €126.1 million, equivalent to only 1.0% of related outstanding loans. This reflects a recovery in in- come flows and the expiration of the moratoria period. By the end of June 2021, 606 new facilities for working capital and loan repayment purposes had been granted to business- es impacted by the pandemic under the Malta Development Bank COVID-19 Guarantee Scheme, corresponding to total sanctioned amounts of €451.5 million, or 58.0% of the scheme's target size. Central Bank of Malta's August Economic Update points to sustained recovery ACROSSLIMITS has partnered with Robotics4EU, an EU-funded project aimed at discovering possible barriers to the acceptance of robotics in society, and finding out how to overcome these barriers. is project is an opportunity for in- dividuals based in Malta to represent Malta in an EU discussion about robot- ics and artificial intelligence in October 2021, forming part of approximately 700 citizens from a total of 10 EU-mem- ber states. AcrossLimits is responsible for re- cruiting 10 local hosts, who do not have to have interest in or knowledge of the subject, as the scope is to hear the opin- ions of average citizens regarding the topic. Hosts must be based in Malta, aged 18-65+ and must recruit a further five to eight participants (18+) who will par- take in the group discussion. is discussion will last approxi- mately two hours and can take place in the host's home. Participants can be friends, family, colleagues, people in the same sports club, school, local associa- tion etc. All hosts will receive €75 each and all participants must have a smartphone, tablet or laptop to participate. e dis- cussion will be prompted and led by a designated software, so all the host must do is start the meeting and follow along as a regular participant. We strongly encourage all interested persons to apply by sending an email to mila@acrosslimits.com as soon as possible, as only 10 slots are available. All applications are screened and hosts will be selected based on a demographic quota. Find out more about this project: www.robotics4eu.eu Learn more about being a host: www.acrosslimits.com/robots-socie- ty-be-part-of-the-discussion Call for citizens to host robotics discussion EU-funded project, Robotics4EU, seeks 10 individuals based in Malta to host a discussion about robotics and artificial intelligence