VALLETTA, Feb. 3 (Xinhua) -- Malta's residents will receive financial assistance as part of a 70-million-euro (80 million U.S. dollars) injection into the economy to partly offset the pandemic-induced price increases, Prime Minister Robert Abela said here on Thursday.
Workers and students will receive 100 euros each, while pensioners and people on social benefits will receive 200 euros each, Abela told a press conference with Finance Minister Clyde Caruana.
"This is a cash injection in the economy to generate economic activity," Abela said. "We will be your shield against the pandemic."
He explained that the cash injection, from which some 380,000 people will benefit, will be over and above the annual tax refunds of between 60 euros and 145 euros, which workers will receive.
Malta's deficit forecasts of 11.1 percent were being revised downwards to 8.1 percent and the stimulus package was within the government's financial means, said Caruana. ■