Malta’s ability to generate energy at a reasonable price in line with rates paid by its European competitors was crucial for the country to remain competitive, former Prime Minister Lawrence Gonzi said today.

Speaking at the Berlin Economic Forum on Maltese Perspectives on Economic Sustainability Issues, Dr Gonzi said sustainability in this sector depended on Malta’s ability to build on green technology and on major infrastructure projects that would link Malta to the European grid, both through an interconnector cable as well as a gas pipeline.

Another sustainability challenge, Dr Gonzi said, was the island’s ability to handle domestic and industrial waste and to recycle as much of it as possible.

A third challenge was the country’s need to increase its female participation rate which was still below EU average in spite of substantial progress in recent years.

Another challenge related to the sustainability of the health and pensions sectors, both linked to the demographic makeup of society.

In both cases, he said, solutions would only be possible if the economy continued to grow at a sustained pace, generating more and better jobs.

“Achieving success depends on our ability to tear down walls and barriers that limit the potential of every citizen, Dr Gonzi said.

Earlier, he spoke about actions Malta had had to take to achieve economic stability.

These included investment in modern technology, the transformation of the manufacturing and financial services sectors, and membership in the EU and the Eurozone.