Referring to recently-issued statistics, Dr Mangion said government statistics confirm the country’s critical situation and show the difficult times the country was facing.

He said national debt in 2003 was around Lm1.3 billion, 72 per cent of the gross national product (GNP). According to EU criteria, this should not surpass the 60 per cent mark of GNP.

He said that last year government expenditure increased drastically. He added that even when not taking into account the Lm41 million relating to the drydocks, the government still increased its debt by Lm160 million.

Dr Mangion also heavily criticised the government over the increase in expenditure of its entities. He added that not only had these entities not reduced their bureaucracy and inefficiency, but they had drastically increased them. Expenses increased from Lm13 million to Lm23 million.

He said the economic situation throws serious doubts on the country’s future economic performance. Dr Mangion said the MLP’s plan for the country’s social and economic regeneration contained specific measures aimed at improving the country’s performance.