Standard and Poor’s has affirmed that Malta is on track to exit the excessive deficit procedure, solidifying the country’s position as one of the strongest-performing economies in the European Union.

The influential rating agency Standard and Poor’s has confirmed that Malta will soon exit the excessive deficit procedure. This
contrasts sharply with developments in larger countries such as France, which has been downgraded by Standard and Poor’s.
Malta, on the other hand, continues to enjoy its strongest-ever rating, reflecting the international financial community’s
confidence that Malta’s economy will remain one of the most robust in Europe.
This important endorsement stands in stark contrast to the claims made by the Shadow Minister for Finance, as the Opposition appears determined to undermine the Government’s success through a persistent state of negativity.
Malta now has the lowest unemployment rate in the European Union, whereas in 2012 it ranked as the second-worst country for job creation.

On Sunday, Prime Minister Robert Abela noted that while some continue to shout about cheap labour, 8 out of every 10 new
jobs are in managerial, professional, or technical careers, with the average basic salary having increased by €10,000. He added
that young people are no longer emigrating, and that many Maltese who left during the GonziPN era are now returning.
The Prime Minister explained that figures show how the Maltese economy grew at eight times the rate of Italy and ten times the rate of Germany. Despite these results, Dr Abela noted that the Nationalist Party continues to claim that Malta’s economic model