Agile : perspectives on Malta’s economy post COVID-19

Abstract

Crises mark transitions and turning points. And it is exactly at these turning points that crises are productive. This is the moment when we can remove the aftertaste of catastrophe and use it as a “decisive turning point”, as per the meaning of the Greek word krisis. This is our belief too. As Seed, a new advisory and research firm, we believe that this crisis can indeed allow us to chart a new path. The seriousness of the threat posed by COVID-19 demands us all to do whatever it takes to weather the storm. Yet, our biggest contribution to the future is to learn lessons from our recent past and to change where necessary. We believe that agility is going to be the name of the game. Only the employees, businesses, governments and societies who are agile will survive and thrive in the future. We set up Seed wanting to do things differently. We care about making a difference; for our employees, for our clients and the wider community This publication is our contribution to the current national debate. Our focus always goes beyond the short-term. Our economic analysis is supplemented by a sentiment survey we conducted together with local data science company, Onest. We also interviewed thirty-six business leaders and social partners to get their perspectives too. In addition, our analysis goes beyond the economic domain too. We also have fourteen expert contributions spanning different sectors and themes sharing their thoughts on a post-COVID-19 world. No doubt that the world will change. Business and trade will change. Social dynamics and our way of life will change. We need to start thinking of a new normal. It is precisely for this reason, that our recommendations go beyond the immediate and offer a long-run vision for the country. We believe, more than ever, that this is the right time to define our future. Let us together work on charting an inclusive and sustainable economic model in the long run; where quality is valued more than quantity, where the environment is given its due importance and where the economy works for people. For this to start, we must start thinking. We must be agile. We hope that this publication can sow the seed of discussion and debate on a new Malta.