The Minister for Finance Prof. Edward Scicluna discusses the recently published NSO figures on economic growth, which confirm Malta’s place as the leading economy on growth in the Eurogroup.

The figures show that during the third quarter of 2014 real GDP increased by 3.8% from 3.4% registered in the previous quarter, while for the first nine months of 2014 it expanded by 3.5%.

Prof. Scicluna notes that the figures confirm that the economy is benefitting from the various measures undertaken by the Government to create an environment which encourages effort and investment.

He explains that it is also encouraging to note that growth was broad, with most economic sectors registering positive growth. He explains that the growth was underpinned by a strong increase in private consumption and investment, confirming the high level of confidence and optimism by consumers and investors.

Prof. Scicluna also notes that the economic growth registered is all the more encouraging given that it is not seasonal, but rather represents a consistent and sustained growth trend that has been registered over the preceding months.

Minister Scicluna also notes that this rate of economic growth also reached the Government’s target for next year, meaning that it will be less of a challenge to register the same rate of economic growth next year also.

– Saturday, 13th December 2014