Finance Minister Prof. Edward Scicluna discusses the recently-announced European Commission 2013 Winter Forecast, which delivered a positive economic outlook on the Maltese economy across the board.
Prof. Scicluna notes that in the previous two forecasts, the Commission had maintained that Malta would not be able to close 2013 with a deficit of 3%. He notes that this was due to the Commission’s scepticism towards the Maltese Government, an understandable stance in view of the previous administration’s repeatedly-missed targets.
Prof. Scicluna notes however that in its 2013 Winter Forecast, the Commission has revised its deficit projection to 3% for 2013, which shows that the new Government is earning the respect and credibility of the Commission by means of its credible and achievable economic plan.
Prof. Scicluna further notes that the Commission also demolishes much of the Opposition’s criticism on the country’s economic progress, given how the Winter Forecast confirms that Malta is expected to boast of the strongest employment growth for the next two years, as well as the currently has the fourth lowest unemployment rate. He also notes that the Forecast positions Malta among the top 10 EU countries with strongest growth.
– Monday, 3rd March, 2014