The government is examining possible new sources of funding for the University, mainly by the creation of private investment opportunities,Finance Minister Tonio Fenech said in the Budget speech this evening.

He said that the number of students at University and Junior College, MCAST, ITS and the Higher Secondary School was constantly increasing, and had now reached a total of 23,597 students.

At University alone, this year there were 3,370 new students in 31 faculties or institutes with 28 new courses.

Next year, the financial allocation for the University would be increased by €3.5 million euro, which is aimed at sustaining last year’s expansion of the University. Work on the building of the ICT Faculty is ongoing, with an investment of several million.

“The University of Malta is of strategic importance for the development of our country. The government believes that this sector requires more investment. Capital as well as recurrent investment is required which is higher than the one we are allocating to it,” Mr Fenech said.

“Therefore we need to examine close new sources of financing for this sector, mainly by the creation of private investment opportunities for the development of this institution which is crucial for our country.”