7 April 2014

Malta 'outperformed' economic expectations

Malta Today 28/03/2014: Malta has "outperformed" economic expectations and was enhancing its credibility with European institutions, Prime Minister Joseph Muscat said today.

Muscat was speaking during the inauguration of Bank of Valletta's new offices at the House of Four Winds in Valletta.

Flanked by ministers Edward Scicluna and Chris Cardona and parliamentary secretary Edward Zammit Lewis, Muscat said the economic results recently obtained by Malta have surpassed the already positive forecasts of the International Monetary Fund and credit rating agencies.

"This is building our credibility, where government agencies give realistic projections and not suit the needs of a government come elections. Credibility was something the country lacked before the European Commission," Muscat said.

He added that the government was holding the breaks on its debt while the deficit, despite the Commission's forecast, was now under 3%..read on.