The economy and job creation

•The Maltese economy is expected to grow by 1.2% this year. The EU economy is expected to shrink by 0.4%.

•During 2012, a number of economic sectors experienced a growth in value added, including financial services, ICT, professional, technical and scientific services, together with arts, entertainment and leisure.

•Malta is experiencing very positive results in tourism while a number of factories have announced expansions.

•This is being translated into the creation of new jobs. At 6.5%, Malta has the fifth lowest unemployment rate in Europe. Unemployment in the EU stands at 10.5%, going up to 11.4% in the eurozone.

•Malta has strengthened its financial position, leading the European Commission to close off the Excessive Deficit Procedure Against it.

•A draft bill will propose the adoption of a modern, transparent framework to strengthen fiscal translation.

•12 month inflation in September has gone down to 2.3%.

•Cost of Living Adjustment of €4.08 .