According to the statistics, Malta registered a negative growth of 1.5 per cent in the second quarter, down from the 2.3 per cent growth in the first quarter and the 2.1 per cent growth in the last quarter of last year.

While Malta’s growth rate turned negative, Euro-zone GDP grew by 0.5 per cent and EU25 GDP by 0.6 per cent in the second quarter. In the first quarter of 2004, growth rates were +0.7 per cent for both zones.

In astounding comparison with Malta’s flat or negative growth, other countries which joined the EU on 1 May have flourished. Latvia registered a 7.7 per cent growth, Lithuania 7.4, Poland 6.1 and Estonia 5.9 per cent.