Finance Minister Prof. Edward Scicluna discusses recently published EUROSTAT data which deals with the confidence of European consumers in their respective economies.
Prof. Scicluna explains that the data was welcome news for the Maltese Government, as the data showed that consumer confidence is in the local economy strong, that income from work is increasing, and that investor confidence is strong also.
Prof. Scicluna explains that such indicators are especially important because they allow observers to obtain an indication of future trends.
He notes that while the majority of other figures and data concern the past, and often take some time to be published which undermines their immediacy, data that deals with consumer and investor confidence afford a good indication of how the economy will perform in the future.
Prof. Scicluna explains that it is on this data that the Government, the Opposition, and other policy and decision-makers rely to obtain a picture of future economic trends.
– Friday, 1st August 2014