Upward revision of growth projections

The Central Bank has revised this year's projections of economic growth to 3.3 per cent from the estimate of 2.5-3 per cent given in its annual report, Finance Minister John Dalli told parliament yesterday.

Replying to a parliamentary question by Labour MP Leo Brincat, the minister said that following the publication of revised estimates of government capital spending, the projected economic growth rate for this year had been revised upwards to 3.3 per cent.

He cautioned, however, that economic projections were difficult in the current uncertain global economic climate and Maltese economic growth depended heavily on the performance of Malta's trading partners.