Prime Minister Robert Abela warned that Malta's economic success should not be taken for granted as he defended his government's record and outlined its legislative priorities during a lengthy address in Parliament on Wednesday.

Abela said that poor economic decisions could quickly reverse Malta's fortunes.

"All it takes is some bad economic decisions, and from 'best in class' we would start to fail our exams," he said.

Addressing Parliament in his maiden speech for the new legislature for around 50 minutes - approximately 20 minutes beyond the agreed speaking time - Abela highlighted the Labour Party's recent electoral victory, economic performance, and plans for the legislature. During the speech, PN Whip Ivan Castillo twice called on the Prime Minister to conclude his remarks.

Abela described the Labour Party's victory in the 30 May election as a historic achievement, noting that it marked the party's fourth consecutive electoral win.

"The population gave a strong mandate to the Labour Party," he said, adding that no political party in Malta had previously secured four consecutive electoral victories.

Abela said the party's electoral campaign had been built around the principle of turning the population's dream into the government's project.

He pointed to Labour's electoral manifesto, which contained more than 1,000 proposals, including over 100 measures specifically aimed at Gozo.

Abela also spoke of the government's long-term strategy, Vision 2050, which he described as a holistic plan for the country's future. He said focus groups conducted ahead of the election had helped the party better understand the aspirations of Maltese society.

"I believe that this is a country that not only deserves to be, but could be among the best countries in the world," he said.

A key component of the government's approach, according to Abela, is the wellbeing index, which he said would objectively measure the impact of government policies on citizens' quality of life.

He said that the index would allow the public to hold the government accountable for its promises, saying no previous political party had voluntarily established such criteria for scrutiny.

Abela said one of his first decisions at the start of the legislature was to create a ministerial portfolio dedicated to overseeing the implementation of the electoral manifesto.

The role is being carried out by Minister Omar Farrugia, whom Abela said would ensure that the government's electoral commitments are delivered.

Abela devoted a significant portion of his speech to the economy, describing the current international environment as one of major challenges.

"I believe that we are living in an extraordinary time, characterised by big international challenges," he said.

While several of the European Union's largest economies are experiencing weak growth, Malta's economy continues to perform strongly, Abela said.

He said the country remains resilient in terms of economic growth and job creation despite global uncertainty.

Abela said that eight out of every ten jobs created are in managerial, technical or professional sectors. He also said Malta's budget deficit is decreasing while deficits in other countries are increasing.

"This is all because we have a plan," he said.

Abela warned that economic success could not be assumed to be permanent, pointing to countries that were once considered wealthy but are now burdened by poverty and debt.

Abela also defended the size of his Cabinet, which has attracted criticism from the Opposition.

"I know that some people said that my Cabinet is too big, but I disagree, because we have a very ambitious programme," he said.

Turning to the government's legislative agenda, Abela outlined several reforms that he said would be brought before Parliament.

Among the priorities are changes to Malta's IVF framework, including making IVF medicines free of charge. Abela said the reforms are intended to help more couples fulfil their aspirations of becoming parents.

The government also intends to introduce legal amendments aimed at protecting public parks and green spaces from future development.

"We want to make sure that any green spaces we gave to the public cannot be taken back," he said.

Abela further announced plans for a constitutional amendment that would explicitly prohibit discrimination on the basis of disability. He also said the government intends to establish a National Commission for Equality.

Abela said the governing side of the House had a renewed responsibility towards marginalised groups in society.

Looking ahead to the next budget, Abela contrasted Malta's plans with developments elsewhere in Europe.

"Around Europe there will be budgets of austerity, but the first budget of this legislature in Malta will be one of investment," he said, adding that both young people and the elderly would benefit from the government's spending plans.

Concluding his address, Abela expressed confidence that his administration would be able to deliver on its commitments.

"With the strong team behind me, I am determined that we will manage," he said