While Malta was technically out of recession, most families in Malta still were in it, the PL's economic affairs spokesman, Charles Mangion, said today.

Dr Mangion said it should be a matter of concern that the economy had been in recession when the eurozone as a whole was not. 

It was good that Malta was now out of recession, but the economic growth of 0.9% was not enough for a country which hoped to have the same living standards as other countries of the EU.

Furthermore, matters had not improved for families, with local demand, including household consumption and even government consumption  and investment (exl inventories) having declined. 

Investment spending had also declined, contrary to what Finance Minister Tonio Fenech had said about GDP growth having come from investment, Dr Mangion said.

Compensation to employees was also down, he added.

 

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