One-third of the Maltese say they are not earning enough money to cope by the end of the month according to the findings of the latest MaltaToday survey.
A good 41 per cent of respondents say they earn just enough to make ends meet throughout the month, while only 26 per cent claim to have enough cash saved for their future.
The survey shows that not everyone is passing through a hard time. There are 21 per cent who can afford to eat out in a hotel or restaurant more than once a week, and another 21 per cent who can afford to take their summer holiday abroad.
These mixed signs come in the wake of the latest figures issued by the National Statistics Office showing the Maltese economy growing by nearly 4 per cent. The MaltaToday survey shows that only 28 per cent believe that the economic situation is actually improving and that 32 per cent do not make ends meet by the end of the month.
Despite various signs of growth especially in the tourism sector, 39 per cent believe that the Maltese economic situation is actually deteriorating rather than improving as official statistics show.
Indicatively, respondents who have not yet made their mind on who to vote for in the forthcoming election still do not believe the official mantra that the economy is getting any better.
While 38 per cent of politically undecided respondents think that the economic situation is deteriorating, only 23 per cent believe it is improving.
This discrepancy between statistics and popular perception could be attributed to a lack of a trickle down of wealth created by the booming sectors of the economy; namely construction, banking and gaming.
Not surprisingly the survey reveals that MLP voters are the least likely to make ends meet by the end of the month- a reflection of the working class roots of the party and the doom and gloom outlook of the opposition.
While 46 per cent of MLP voters claim that they can’t cope by the end of the month this is only the case for 23 per cent of PN voters and 21 per cent of undecided voters.
On the other hand while 33 per cent of PN voters and 31 per cent of undecided voters claim that they have enough money to save at the end of each month. This is only the case with 8 per cent of MLP voters.
The survey does not show any remarkable improvement in living standards over the past year. In fact the number of people who did not go on holiday remained practically at the same as last year (59 per cent).
The number of those who spent their holiday in Gozo remained practically the same but the number of those travelling abroad for their summer holiday increased slightly.
Significantly more people claim to have taken their main summer holiday abroad than in Gozo.
The survey reveals a social divide between those who afford to spend money on leisure activities and those who don’t.
While a significant 21 per cent can afford to eat out in a hotel or restaurant more than once a week, 37 per cent never go to eat out.
But the survey also shows that a sizeable number of respondents are living for the day and seem to prefer spending money than saving.
In fact, 64 per cent of those who frequent a restaurant every week claim that their income is just enough to cope till the end of the month.
Significantly 30 per cent of those who go out to eat in a restaurant every week claim that their salary is not enough to make ends meet by the end of the month.
The divide between those who can afford leisurely pursuits and those who don’t is also reflected in electoral choices. Among those who have taken their summer holidays abroad, 44 per cent would vote for the PN, while only 26 per cent would vote MLP and another 6 per cent would vote AD.