Those who say we need a change to Joseph and the Sharks need to have their heads examined. And I mean that.
On timesofmalta.com today:
MALTA TO HAVE SECOND HIGHEST ECONOMIC GROWTH IN EURO AREA – EU FORECASTS
By Ivan Camilleri
Malta’s economy is forecast to continue to gain momentum this year and is expected to register the second highest growth among the 17 members of the eurozone, according to the EU’s winter economic forecasts published this morning.
According to the report, compiled by the Commission’s economic services, Malta’s GDP growth this year is expected to reach 1.5 per cent, the second highest after Estonia’s 3 per cent.
On the other hand, the Commission is forecasting a contraction of -0.3 per cent in the euro area’s GDP growth.
According to the Commission, Malta’s economy, which it described as “gradually gaining pace”, will result in above average job creation (+1.7 per cent compared to -0.8 in the eurozone) and low unemployment (6.4 per cent against 12.2 in the euro area).
With regards to public finances, the Commission is forecasting a deficit of -2.9 per cent, up from -2.6 per cent forecast for 2012, and an increase in public debt to 73.9 per cent of GDP, up from 73.1 in 2012.
The figures are all based on forecasts as the actual data for 2012 has yet to be published by Eurostat, next month.
According to the budget estimates, the government is expecting more positive results with regards to the deficit, which is estimated to fall to 2.3 per cent for 2012.
The Commission said that domestic demand is expected to become the main driver of Malta’s economic growth in 2013-2014 and construction investment is forecast to pick up slightly on the back of EU funded projects.
And now here’s my footnote:
Mhux ahjar inhallu f’idejn Il-Guy, Il-Profs EdwARRRD, Louis Grech u Joseph tas-Super One, tghid?
JAHASRA.
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No, I don’t want change. Biss jiehdu kollox il-korrotti u jirrovinaw lil Malta.
Hear, hear.
Ara xi haga hekk, mhix taghna lkoll.
I would expect the over riding assumption behind this forecast is that the present government retains power.
I’ve just come back from an evening out. Lapping up the last drops of culture before Labour takes over, KZT notwithstanding. Art exhibition, Harry. The artist had brought along his girlfriend, so I opened the exchange with “Er, so are you an artist too?”
She wasn’t. She was an economist. Nice. From the Eastern Approaches of Europe, as The Economist might put it, Harry. Transylvania. So I tried to get a snapshot of economic performance round their corner of the world. But she kept referring to this report, with barely disguised envy. Yes Harry, Malta is making waves.
I thought I might tip any investors and traders on the stock market here: Play it for all it’s worth, because on 10th March it will all change.
You won’t believe this: this afternoon I received a phone call:”Sinjura tixtieq tilqa lil Joe Debono Grech gewwa darek ghal home visit?”
I bit my tongue and said “No thank you”.
The guy tried again “Sinjura, taf kemm ghandna bzonn bidla f’dan il-pajjiz?”
I just mumbled something and put the phone down.
I would have liked to say a lot more but he knew my name and my address and so I didn’t.
I wanted to say “U l-bidla JOE DEBONO GRECH se jgibilna, l-aktar wiehed dinosauru xih, korrott, vjolenti u njorant li ghandkom?” Unbelievable. Imma kemm jahsbuna cwiec?
Jiena wkoll ircevejt telefonata mill-kazin Laburista, jistaqsuni ghandix bzonn xi haga u li kieku mhux ghax jafu min jien minhabba xogholi, wkoll kont naghtihom palata. Ghidtilhom, le grazzi tajba qieghda.
Shame on you, Dr Gonzi! Only second? Joseph told us we will be the best in Europe.
In the meantime, the UK has not been spared from a credit rating downgrade by Moody’s
http://www.telegraph.co.uk/finance/economics/9889410/Britains-credit-rating-downgraded-from-AAA-to-Aa1.html
L-Orizzont reports ‘id-dejn ta malta kiber’, instead of the highest economic growth in EU, which is the real news and truth.