In his weekly video blog, Finance Minister Prof. Edward Scicluna discusses the issue of external demand, and why this is important for a country like Malta that depends on external demand for its exported products and services.

Prof. Scicluna explains that external demand depends considerably on factors such as the state of the international economy and the country’s own economic competitiveness.

He notes that the Maltese Government can do little to control or influence the former, especially in the context of the ongoing Europe-wide economic downturn which has left the European economy lethargic albeit with positive prospects for the start of 2014.

Prof. Scicluna explains that the country can maximise Malta’s external demand by ensuring it maintains its competitiveness in various ways, such as by controlling the cost of production while also raising productivity.

He also explains that the Government is committed to enhancing the economy’s output potential by facilitating the participation of workers and improving the level of education and training of the labour force.

– Monday, 29th July, 2013