Private sector driving Malta’s robust growth

The latest NSO news release on the gainfully occupied population confirms that the private sector continues to be the driving force behind the generation of employment and robust economic growth in Malta. Indeed, out of a total of 9,900 new jobs created last year, 8,690 were generated by the private sector. This means that out of 10 new jobs created, around 9 were generated by the private sector while only one was in the public sector.

Minister for Finance Edward Scicluna states that, “These figures continue to confirm the Government’s belief in the private sector as the sector which can truly sustain long-term economic growth.”

The employment trend in recent years has led to a decline in the share of public sector employment from around 30 per cent in 2011 to 23.8 per cent in 2017.

The increase in private sector employment was broad-based as most sectors recorded increases in employment. The highest increases were recorded in administrative and support service, the arts, entertainment and recreation and the professional, scientific and technical activities sectors. Other notable increases were recorded in the accommodation and food service activities reflecting the remarkable developments in the tourism sector as well as in the financial and insurance activities, transportation and storage and manufacturing, amongst others.

Finance Ministry further adds that, “The Government remains determined to continue with this trend which leads effectively to a reduction in the tax burden for Malta’s taxpayers.”

Thursday 10th May 2018


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