This morning, the Minister for Finance Edward Scicluna addressed the Finance Malta 9th Annual Conference. The conference with the theme "Malta's Financial Service Industry, Sustaining Growth Through Innovation" was held at the Hilton Hotel in St. Julian's.
While addressing the conference, Minister Scicluna emphasised the importance of innovation in pushing the economic sectors forward. He noted that, while the recovery is still weak across Europe, Malta is benefiting from a stable, diversified and rapidly growing economy. Nevertheless, he added that although our economy is doing well, one still needs to monitor growth in all sectors to prevent overheating.
The Finance Minister also remarked that in the aftermath of the financial crisis, the financial regulations enacted so far are affecting bank lending and thus investment in Europe. The Minister for Finance also emphasised the importance of public finance sustainability to ensure that economic growth is not hampered. He also added that further falls in the debt and deficit ratios should be attained without giving any shocks to the economy.