The Nationalist Party has cautioned that last year's economic growth which reached 6.3 per cent, was not fuelled by sustainable sources but by one-time measures and cash injections.

Addressing a news conference at Parliament, PN deputy leader and finance spokesman Mario de Marco noted that in spite of this growth, 80,000 workers experienced a drop in their real income last year, when taking in consideration the rise in cost of living.

He said that according to the Labour Force Survey the worst hit were machine operators, service and sales workers and those with elementary occupation.

Quoting from recent data published by the National Statistics Office, he said that eight per cent of last year’s gross domestic product, which reached €8.7 billion, was driven by one-time cash injections. These included over €200 million in EU funds, €300 million for the new power station and €120 million from the citizenship scheme.

“A responsible government would immediately realise that this growth was due to one-offs, and so would seek more sustainable and long-term sources like tourism and the financial services sector,” Dr De Marco said.

He said that the Opposition was not after political points but wanted to engage in a serious debate with the government on how to maintain the existing growth rate over a longer period.

Touching on government finances, he cautioned that government expenditure was on the rise. He noted that since January 2013 government spending had increased by €50 million per year while recurrent expenditure in the first two months of this year alone had risen by 9.5 per cent over February 2015.

During the same period, the major increase in revenue was of €16 million from excise duty which was mainly the result of the tax increase on fuel which came into force at the  turn of the year.  Furthermore total central government debt increased by €452 million or 8.7 per cent between February 2015 and last month.

The PN deputy leader echoed the call made recently by the GWU that increase in growth needed to “trickle down” to all strata of society.