The island will grind to a halt on Monday with a number of schools and establishments set to close the day after the election result, burning an estimated €20 million hole in the country’s coffers.
The Monday blues hit the island once every five years when the day after the electoral result is known, as most shops remain closed while party supporters carcade in the streets, causing major traffic jams.
Opposition Leader Joseph Muscat has repeatedly said throughout the campaign that, if elected, his first act would be “to reassure people” that Monday would be “a day like any other”.
Should he win the election, this might be his first major hurdle as several businesses contacted by The Times said they would be closing for the day.
Economist John Cassar White estimated that this standstill would roughly cost Malta 0.25 per cent of the GDP (the amount of work we produce in a year).
GDP in 2011 was $8.89 billion (€6.82 billion), with an estimate of a day’s GDP roughly put at €20 million.
“It’s quite an impact and we cannot afford to lose anything at the moment.
“But anyone who has been through a Maltese election knows that the day after is always like this,” Mr Cassar White said.
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