The Malta Independent 18 September 2021, Saturday

PES praises Joseph Muscat for turning country’s economy around in four years

Friday, 31 March 2017, 12:29 Last update: about 5 years ago

PES, the socialist and democrats hailed the fiscal success achieved by the Maltese Labour government led by Joseph Muscat, "who has turned the country's economy around in just four years - and done so while also implementing unprecedented social measures."

In 2012 and before, Malta was subject to an excessive deficit procedure. By 2016, it had achieved a fiscal surplus for the first time in 35 years.

PES were reacting to a statistic which showed how in 2016, Government's Consolidated Fund registered a surplus of €8.9 million.

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The Consolidated Fund data is the starting point for the compilation of the General Government deficit in line with the ESA 2010 methodologies. The National Statistics Office, submitted to the Commission the latter by means of the Excessive Defi cit Procedure (EDP) Notification for the years 2013-2016, which data shall be published locally on the 24th April.

"The success of the Maltese government programme should be not only a model for other social democratic governments, but for every European country," PES president Sergei Stanishev said.

"Progressive parties always insist on a strong social agenda. When we manage to combine this also with strong economic growth, like in Malta, the result is success not only for the country, but for the entire PES family."

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