Malta's strong social measures paved the way for economic success

31/03/2017

PES Financial and Economic Network

PES hails the fiscal success achieved by the Maltese Labour government of Joseph Muscat, which has turned the country's economy around in just four years –- and done so while also implementing unprecedented social measures.

In 2012 and before, Malta was subject to an excessive deficit procedure. By 2016, it had achieved a fiscal surplus for the first time in 35 years.

At the same time, Malta’s Labour government has greatly strengthened social measures. This paved the way for economic success by empowering citizens to be able to go out and work, and by giving fiscal incentives to businesses that in turn created further job opportunities.

PES president Sergei Stanishev said:

"The success of the Maltese government programme should be not only a model for other social democratic governments, but for every European country.

"Progressive parties always insist on a strong social agenda. When we manage to combine this also with strong economic growth, like in Malta, the result is success not only for the country, but for the entire PES family.

"I am very happy that the Maltese government is also working hard on our European Youth Plan, providing job opportunities for young people and recently implementing the Culture Cheque to provide young people with free access to culture. This is an investment in the future of the European project.

"Joseph Muscat is achieving both economic and social success. His government has put Malta’s economy on solid foundations, creating quality jobs and helping the parts of society which need it most."