Economics essay winners

Omar Cutajar has won the BOV Economics Award 2003 and Pauline Mercieca was runner-up.

The award is an annual essay competition, open to the public, organised by Bank of Valletta's economic research unit in consultation with the economics department of the University of Malta.

The themes this year focused on Malta's participation in the Economic and Monetary Union and investment in technology and innovation as a means of long-term growth.

Mr Cutajar's winning essay delved into the strategic prospects of Malta's eventual adoption of the euro. He discussed the challenges faced by the economy and Malta's participation in the Excessive Deficit Procedure and the Stability and Growth Pact. Particular importance was placed on the exchange rate policy and on fiscal consolidation.

The awards were presented during a seminar held at BOV's head office in Sliema by Paul Spiteri, the bank's executive head for corporate strategy. The winners received cash prizes amounting to a total of Lm650.