Malta’s Economy Grew Nearly Seven Times More Than The Eurozone In The Last Quarter, Labour Party Says, Celebrating ‘Growth Strategy’
Malta’s economy grew nearly seven times more than the Eurozone in second quarter of 2023 when compared to the same period in 2022, the Labour Party has said, celebrating the country’s “economic success” and the government’s “economic strategy”.
“Our country once again had the highest rate of economic growth amongst all other countries,” the PL said, pointing at Malta’s rate of 3.9% when compared to the Eurozone’s 0.6%.
“Over and above these results, an economic transition that emphasises quality needs to be implemented,” the governing political party continued.
80% of the reported increases come from the financial services, professional services and manufacturing sectors, with a collective growth of 13% being registered across the three. For context, that growth equates to a value increase of €140 million.
Meanwhile, Maltese and Gozitan companies continued to increase their exports, with a record €6.2 billion being registered over the last quarter – a 13% increase from the pre-pandemic days.
As far as the public sector’s share in the national economy goes, the Labour Party pointed at this decreasing by 2% in the last 11 years, celebrating the economic growth “spurred on by a dynamic private sector that was supported by government policy which provided protection against international shocks that hindered businesses in neighbouring countries.”
Using all of the above to prove that “the Labour Party is the only party with the credibility to lead our economy forwards”, the statement concluded by saying that the emphasis going forward will “always remain on the quality of life”.
What do you make of these stats and the PL’s comments on them?
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