Malta’s economy made remarkable gains in the past three months, growing by 7.2% – a national record of growth for this time of the year.
National statistics show that Malta’s gross domestic product stood at €2.8 billion at the end of September, amounting to an increase of €249.6 million in the past year.
The growth was pushed up by government consumption which increased by 18.1%, but household consumption also increased by a more moderate 4.4%. It also means Malta’s economic growth was the highest out of the Eurozone countries and the second highest out of the 28 EU member states – behind only Romania where the GDP grew by 8.6%.
Record breaking 7.2% economic growth by #Malta
In a tweet, Prime Minister Joseph Muscat praised the findings and took a dig at the Opposition – whose former leader Simon Busuttil had warned in his election campaign that the Maltese economy would suffer a serious hit if Labour was returned to government.