During these years of Labour administration, we have proved capable of bearing the burdens of past administrations, but rather than carrying on with them at the expense of future generations, we have managed to convert them into positive opportunities.

Since 2013, the whole nation has witnessed a steady pace of progress in the country's well-being. Indeed, a clear vision, combined with determination, has converted all the doom and gloom into an era of unprecedented prosperity that is fully mindful of future generations.

Despite concerted and incessant attempts to hinder growth and progress, the Labour Government has led the country from optimism to prosperity, with a continuum of positive outlooks for what future generations will be inheriting. The latest official results confirm that the national debt burden we inherited has been successfully tackled, with a substantial reduction of €664 million in public debt and related servicing and guarantees. This is the result of a sustained fiscal record whereby the Government achieved a surplus of €241 million during the first nine months of last year, a stunning €35 million more than in 2017.

The IMF applauds Malta

In preliminary findings, following an official visit by International Monetary Fund officials, this world-wide organisation has this week revealed that Malta's economic growth continues to be one of the strongest in Europe, resulting in rapid income convergence towards the EU average. The IMF also applauded the government's drive to improve the infrastructure, increase the labour supply and ensure a surplus in public finances, adding that these efforts were key to sustaining high growth levels.

As is customary with reviews by such respectable organisations, the IMF went on to report that Malta's growth prospects remain favourable but that mounting pressure on the infrastructure, rapidly rising housing costs and labour shortages increasingly posed challenges. While the outlook remained strong, the IMF said that the economy faced capacity constraints and proposed more action to increase the supply of social housing.

The good news is that the government is already fully aware of such challenges and has, in recent years, added its momentum in respect of the infrastructure, with mega projects already underway and multi-million euro projects for social housing, which is similarly in progress. These were, of course, two major pledges in the 2017 snap election and they have immediately been implemented.

Gozo's input

In its own way but with a sustained record, Gozo is also contributing to the country's growing prosperity. The ever-growing feel-good factor is constantly sustained by record results in many aspects.

The number of people crossing between Malta and Gozo by sea during 2018 stood at 5,758,318, an increase of 374,478. or seven per cent, according to data published this week by the National Statistics Office (NSO).

A similar increase was registered in the number of vehicle crossings, which increased from 1,544,022 in 2017 to 1,659,902 in 2018 - a 7.5 per cent increase. The increase in demand meant that Gozo Channel was required to operate 1,090 more trips than in the previous year to reach of a total of 23,619 for the year.

The NSO reported that sea transport between Malta and Gozo increased every month, the largest increase being registered in December with 12.6 per cent more passengers and 14.7 per cent more vehicles making the journey. These results prove that transport between the two islands has continued to increase in recent years, having stood at just over four million in 2012.

Building on success

The clear vision we have had from day one, together with our full trust in the resilience of our people, is the healthiest element that has led the country to a long series of firsts. The best part of Malta and Gozo's success story is yet to come and it needs the synergy of all those who really believe in an even better future for our country. It requires further focus and resolve to sustain a performance that has been repeatedly acclaimed as among the very best in the EU and the Eurozone.

Basically, this was the underlying thread throughout the Gozo Tourism Awards Ceremony last week. Synchronising our efforts will ensure an upgrade of the product we put on offer: promoting Gozo as a distinct destination. Similarly, better accessibility between both islands, further radical work on the infrastructure, keeping the island alive with a wide variety of attractive cultural and entertainment events and many other important commitments will certainly be assured through the Gozo Regional Development Authority.

Connectivity is, I know, a major challenge and over and above the tunnel mega project, we are all set to strengthen the current ferry system and have additional methods of transport. In recent months I have been discussing this challenge with the Tourism Ministry, particularly the reintroduction of the helicopter service between the islands. It was most appropriate that, during the same GTA event together with Minister Konrad Mizzi, we broke the news to an appreciative audience that a study is expected to be concluded by the end of March into the possibility of this helicopter service.

Full use of EU funds

It is with pride that we note that Malta has used all the EU funds allocated to it on time. Hats off to my colleague, Aaron Farrugia, for having successfully completed the work begun by his predecessor Ian Borg in ensuring that the country takes the maximum of available funds in the context of the 2014-2020 programming period. Around €242 million in EU funds had been spent by December 2018.

Through the optimum use of such funds, together with the robust economy we have generated, we have witnessed record investments in various projects in the infrastructure, security, the creation of jobs, training for innovative skills and improvement in the standard of living. Gozo has also earned its share with the extension and renovation of the Xewkija Industrial Park, as well as the new reverse osmosis plant at Ħondoq, the new Gozo Museum and other major projects we have already targeted - some of which have not yet been announced.

Having used maximum funds is an achievement that will place Malta's negotiating team in a stronger position for attaining a fair deal in the next European budget, post 2020, the negotiations on which are expected to be concluded by autumn this year. Everyone can rest assured that the Gozo Ministry will make every possible effort to ensure that our island-region receives its rightful share.

It is therefore very evident that the bleak forecasts made before 2013 are now a thing of the past. Not only have we overturned the dull situation Malta and Gozo were in just over six years ago, but we have achieved the necessary and lasting strength to move our nation on to a brighter future. Unlike the burdens passed on to us, Labour's inheritance will be the result of trust, resolve and prosperity and I, for one, am very proud to be part of this strong and united team led by a brilliant statesman - Joseph Muscat.