Malta registers second largest economic growth in Eurozone

12 May 2016
In 2015, Malta managed to surpass the EU’s economic growth forecast by 1.6%, after registering an economic growth of 4.9%, the second largest increase within the Eurozone. Reacting to the EU’s Winter Economic Forecast (WEF) report, economy minister Chris Cardona described the result as another certificate of success.
The report claimed that the main engine of growth for Malta’s economy continued to be private investment with 18 full-time vacancies created every day, while nine unemployed people are hired every two days. “In the past three years Malta has doubled its economic growth, reduced unemployment to the lowest figures in history, registered the highest investment rates and lowest deficit and national debt figures”, Cardona said. These results have earned Malta the trust of the EU Commission.
In 2015, the Commission had forecasted Malta’s economic growth to reach 3.3%, at par with the growth of 2014. However the country managed to outshine the EU’s expectations and reach 4.9%. Over the same period, the average economic growth within the Eurozone was 1.6%, while the average across all the European Union was 1.9%.

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