The government has denied claims by the Nationalist Party that economic indicators point to future economic problems, saying instead that the  indicators point towards a sustained recovery in the economy.

"Recently published leading economic indicators are showing strong signs of a post-election economic turnaround. This confirms that the pre-election economic downturn is being halted, and that the Government’s economic policy direction has placed the country on the road to recovery," the governemnt said.

It noted that the importation of Capital or Investment Goods, which contribute significantly to the Malta’s economic growth, has been growing. 

"The NSO’s figures confirm that since the middle of 2013, imports of Investment Goods are reflecting a turnaround with a strong increase of 38% in the third quarter and 77% in the last quarter of 2013. One may observe that the decline was halted by the new Government’s change in policy direction."

There had also been an increase in credit extended to households, which included lending for house purchases.

"While the growth rate suffered a drastic decline from the end of 2011, where it stood at 7%, towards the middle of 2013, where it fell to 4.8%, that decline has now been arrested in the months following the election, and has remained stable since then.

"With regards to retail trade, contrary to the Opposition’s attempts to claim otherwise, in December 2013 there has been an increase by 1.4% year on year. This is a positive and encouraging result when one considers that during the same period, Eurozone countries suffered a negative fall of 1.6%.

"These data confirm both business and consumer confidence towards the future, as well as their readiness to invest in the Maltese economy," the government said.