The Malta Independent 26 May 2019, Sunday

Malta is now among the best in the world – PL

Thursday, 25 April 2019, 10:42 Last update: about 30 days ago

When comparing Malta’s economy to the rest of the world, we are now among the best countries in the world, PL MEP candidate Fleur Vella said.

Speaking at a press conference, Vella spoke about Malta’s third consecutive surplus – a surplus that reaches the people, coupled with a strong economy, and a national debt which stands at 46% of GDP.

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“This is a sustainable level of debt – but this result must be taken in context from where we began.”

Vella explained that we got to this position because of an economic strategy that started in 2013, and brought us to where we are now.

This was done by reducing water and electricity bills, which Vella said allowed for stability for businesses as they could trust the economy; increasing work participation through state-funded childcare; and in-work benefits where people who were on social benefits could successfully hold a job until they eventually got off any benefits.

The surplus, Vella maintained, is going into increases in pensions, which aren’t just increases on the basis of the cost of living but increases that go beyond that, and also better-quality health care and more available medicines.

MP Alex Muscat noted how institutions like Eurostat and the Central Bank of Malta are saying that we are having unprecedented economic growth.

Taking a shot at Opposition Leader Adrian Delia, he said that “it is almost surreal that you have an Opposition Leader challenging these facts even when you have independent institutions saying so”.

“The Nationalist Party is not credible on finances when in their time they did not reach the very economic aims they set themselves.”

MP Edward Zammit Lewis hailed Prime Minister Joseph Muscat’s government as having made this dream a reality, coming from a situation where the government wasn’t capable of passing their budget.

He noted how we do not mention the “excessive deficit procedure” anymore because our level of debt is sustainable.

“The government made a turnaround in the economic and financial situations.”

Zammit Lewis queried how it could be possible to trust the Nationalist Party to do the country’s accounts, and take care of budgets when they make a basic mistake in their billboards.

“Adrian Delia has not even started addressing the internal turmoil in his party!”

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