Poverty reduction resulting from effective budgetary measures

Finance Minister Prof. Edward Scicluna welcomes the latest figures published by Eurostat which confirm that the proportion of people who are severely materially deprived in Malta has decreased in 2015. According to Eurostat figures, the share of severely materially deprived people in Malta fell by 2.1 percentage points in 2015, from 10.2 percent in 2014 to 8.1 percent.



This means that, the number of persons whose living conditions are constrained by a lack of resources such as not being able to afford to pay their bills, keep their home adequately warm, or take a one week holiday away from home, decreased by 9,000 in 2015.



The Minister for Finance Prof. Edward Scicluna remarks: “These figures confirm our previous assertions on poverty where we had stated that poverty was expected to decrease in 2015, after stabilising in 2014. We are confident that poverty will continue declining this year reflecting the 2016 Budget measures on poverty reduction such as the increase in minimum pensions.”

In 2012, the number of severely materially deprived persons had increased by 10,000 causing the share to rise sharply from 6.6 per cent in 2011 to 9.2 per cent in 2012.

The recent results come in the aftermath of a number of the budgetary measures implemented by the Government which were aimed at both increasing and distributing wealth, and thus reduce poverty. These included the reduction in utility tariffs, the in-work benefit scheme for low income earning households, the tapering of benefits, child supplement, and free childcare centres.



Friday 15th April 2016


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