Economic growth appears to count for nothing in Malta’s fight against poverty, with the number of people at risk jumping up by 10% over the last decade, EU figures have revealed.
This means that the country has actually moved further from its EU targets for 2020, which is only a few months away.
Anyone who earns below €8,868 falls beneath the at-risk-of-poverty line.
Over the past ten years, booming gaming, financial services, and tourism sectors have seen Malta’s economy go from strength to strength, while unemployment has become practically negligible.
However, questions surrounding sustainability, income inequality, and rising costs of living, especially in real estate have become a real concern for everyday citizens.
According to figures provided by the National Statistics Office, there are almost 80,000 people in Malta who are at risk of poverty, with more than a quarter of all people aged 65 and over also at risk.
Meanwhile, roughly 3% of the country suffers ‘severe material deprivation’, that means there are 15,000 people are battling serious poverty.
The at-risk-of-poverty figures form part of the EU’s 2020 targets, which are essentially the bloc’s agenda for jobs, growth, and sustainability for the decade.
It primarily looks to promote sustainable growth to deliver employment, productivity and social cohesion while also reducing their impact on the natural environment.