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Government expenditure on stipends increases by over €3.3million over the last four years
The Government increased its investment in the stipend system by over €3.3 million when compared to the amount spent in 2012, with total expenditure for 2016 amounting to €25.8 million. This was stated by Minister for Finance Edward Scicluna and Minister for Education and Employment Evarist Bartolo at the Malta Stock Exchange (MSE) as they addressed students currently following a course in finance.
The ministers also praised the MSE for organising the course in investment with a strong practical component. The course is open for MCAST students who passed a competitive selection process, and besides the taught component in fund management, accounts, and financial products, will also expose students to work carried out by the MSE itself, as well as the Malta Financial Services Authority and the Central Bank of Malta.
Minister Scicluna commented on the importance of such exposure and underlined the fact that the Government has undertaken several measures in order to ensure that more students attain a tertiary education. In particular, he singled out the granting of stipends to those who fail a particular year as a measure that will help discouraged students to put in the necessary effort to succeed in their studies.
Minister Bartolo underlined the importance of bringing the working world closer to education and described that several industries are facing changes at a very fast speed which are outpacing instruction giving in academic institutions.
MSE Chairman Joseph Portelli described that banking and finance graduates nowadays are finding better paid jobs than their peers 10 years ago since the financial services industry has progressed over the years. He added that improved financial literacy is critical for Malta to continue to develop and grow into a financial sector.
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