Last Updated 11 | 03 | 2014 at 16:00


Economic growth doubled over 2011 and 2012 - government

Article By: news

Economic growth during 2013 doubled over 2011 and 2012 according to statistics published by the NSO, the government said.

The growth outpaced the government’s forecast of 3.7 per cent and 1.2 per cent in nominal and real terms, respectively, and the forecast of the European Commission.

Nominal growth was of 4.4 per cent while real growth was of 2.4 per cent.

During the nine months of the current administration, economic growth was 2.6 per cent when compared to one per cent and 1.2 per cent during the same period in 2011 and 2012.

While Malta’s economy expanded by 2.4 per cent, that of the European Union increased by 0.1 per cent while that of the eurozone decreased by 0.5 per cent.

These figures, the government added, contrasted sharply with the negative impression which the leader of the opposition and his spokesman for the economy and finance tried to give until yesterday.

Private consumption has grown by €50 million in real terms during the last nine months of 2013 compared to the same period in 2012. Government spending in real terms expanded by less than €1 million after having risen by €21 million and €37 million in 2011 and 2012.

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