“Another sustained economic growth is a remarkable indication that our economy is continuing to steam steadily ahead, reaping benefits to businesses and employees alike”, stated Minister for Finance Edward Scicluna.

PRESS RELEASE BY THE MINISTRY FOR FINANCE

In real terms, the 5.9 per cent growth of the Maltese economy during the second quarter of 2018 translated into an €89 million increase in workers’ wages, the majority of which appertains to the private sector. In addition to a €107 million increase in gross operating surplus of enterprises, net taxation on production and imports increased by €42 million. When compared to the second quarter of 2017, GDP at current prices went up by €238 million. The main GDP growth during this same quarter was attributable to domestic demand.

During the first half of this year, economic growth remained broad-based as growth in the gross value added of all sectors reached €188 million.

The arts, entertainment and recreation sector and the repair of household goods and other services sector were the main contributors to this increase. Notable growth was also noted in other sectors, namely the public administration and defence sector, education, human health and social work activities, professional, scientific and technical activities, administrative and support activities, as well as in professional, scientific, and technical activities and administrative and support service activities

Other notable private sector increases were also registered in wholesale and retail trade, transportation and storage, and the accommodation and food services sectors.

6th Sep 2018