The government is due to decide “within days” when it will apply to join the euro, Parliamentary Secretary Tonio Fenech said yesterday.

Speaking on a Radio 101 programme, Mr Fenech said the government would apply to have an assessment made of the country’s economy by the European Commission. By June or July the Commission will make its recommendation to the Council of Ministers whether Malta is judged ready to join the euro.

Mr Fenech also said that between January and September, incoming investment totalled Lm487 million and by the end of last year it is estimated to have reached over Lm500 million. This is three times the amount of inflowing investment of the previous year, Mr Fenech said.

Even if one were to subtract the investment that came with the privatisation of Maltacom (Lm94 million) and the investment by financial services companies (around Lm100 million), there still remains Lm300 million which were invested by companies in the manufacturing sector.