Attracting more women to the labour market is a priority for Malta to be able to achieve its 2020 EU employment targets, according to Finance Minister Tonio Fenech.

Each member state has to come up with its own national strategy so the EU’s collective goals can be reached.

Mr Fenech yesterday launched a consultation process to develop a national reform strategy and address several obstacles that could prevent growth.

While the EU hopes to have 75 per cent of those aged between 20 and 64 employed, Malta’s draft strategy aims to see a move of four percentage points over 10 years, to 63 from 59 per cent. This will be done mostly through strengthening measures and incentives, which are already in place, to urge women to return to work or enter the workplace.

The initiatives, Mr Fenech said, had to be ambitious and realistic and, besides employment, focus on energy, education, social inclusion and research and development.

While the EU hopes to lift 20 million people out of the risk of poverty and social exclusion, Malta’s target is 6,560.

“The initial projections show it will be relatively difficult for Malta to improve on its current position both as its starting point situation is fairly good when compared to that of other member states as well as in view of the projected demographic changes leading to 2020,” the draft strategy states.

Malta will also have to decrease its rate of school dropouts and boost the number of people with tertiary education.

While the EU target in education is to cut school dropouts to under 10 per cent, Malta will begin by reducing dropouts to 29 from 36 per cent.

On the other hand, the EU will seek to ensure that 40 per cent of people younger than 34 years qualify from tertiary education while Malta’s targets are projected to move from 21 to 33 per cent.

Asked if the government planned on taking the advice of the Central Bank governor to reform the stipend system to make it more effective and efficient, Mr Fenech said while all opinions were welcome, the government strongly believed the system in place was instrumental in helping Malta catch up with other countries in terms of education and no changes were planned.

Mr Fenech also spoke about Malta’s energy targets in relation to those of the rest of the EU: generating 10 per cent of energy from renewable sources and keeping greenhouse gas emission increases below five per cent.

The consultation document can be accessed on www.finance.gov.mt until March 1. Suggestions and comments can be sent to pdd.mfei@gov.mt.