On May 30th, the European Commission issued its staff working document concerning its assessment of the 2012 national reform programmes and stability programmes for the 27 European Union Member States, including Malta.
In its assessment of Malta, the Commission highlights that the Maltese economy “continues to perform relatively well” and that the general government deficit in 2011 was below 3% (at 2.7%) of Gross Domestic Product. Furthermore, the Commission notes that economic growth was robust in 2011 and that while economic growth is expected to slow to 1.2% in 2012 - which still compares favourably with the EU average – this is expected to regain momentum in 2013. It is also pertinent to note that the working document highlights that in 2012, Malta’s unemployment rate is projected to remain well below the euro-area average at 6.6%.
(Source: Press Release issued on 30th May 2012 by the Department of Information - Malta).
The whole Press Release can be read by clicking here: http://www.doi.gov.mt/en/press_releases/2012/05/pr1224.pdf