NEWS | Wednesday, 15 October 2008

PRINT THIS ARTICLE

Worrying exports prove economy is stagnant – MLP

The Malta Labour Party yesterday cited the latest trade figures to point out that the economy was stagnating at an alarming rate.
Labour’s spokesman on the economy Gavin Gulia quoted National Statistics Office data showing that exports last August fell by €25.2 million when compared to the same month last year.
“When one considers that exports in July fell by €35.1 over last year, it results that in two months Malta lost at total of €60.3 million in exports and a total of €138.9 million in the first eight months of this year,” Gulia said.
Import figures also indicate negative trends. In August, imports fell by €16.9 million when compared to the same month last year, with a 6% drop in imports of consumables.
“These figures clearly show that the Maltese economy is not as resilient as the government likes to project it to be,” Gulia said. “Although it is true that the economy of many countries around the world is experiencing a slump in growth, there is no other EU country that is experiencing such a drastic decrease in exports as Malta.”

PRINT THIS ARTICLE

Any comments?
If you wish your comments to be published in our Letters pages please click button below.
Please write a contact number and a postal address where you may be contacted.