The agency’s officials, Eileen Zhang and Konrad Reuss, are currently touring the island holding talks with representatives from various sectors before they issue the rating for Malta.

Dr Mangion gave a presentation based on the latest published statistics. He said that figures show the Maltese economy is in a stall and is not developing, stressing that there is a loss of employment and a lack of control over the country’s finances.

Discussing the party’s policy on privatisation, Dr Mangion said that there was the need for a process that was more transparent, adding that the party believed government should keep its control over strategic economic sectors such as air and sea-going transport.

He explained that the MLP did not agree that the government should attack the welfare state to address what, he said, are the economic and financial problems created by the same administration. Concluding, Dr Mangion said that there was a pressing need for more accountability, less bureaucracy and a more efficient public service.