Finance Minister Prof. Edward Scicluna explains that the recently-published positive assessment by international credit rating agency Standard & Poor’s underlines the credibility of the Government’s plan to undertake significant reforms while also strengthening the country’s finances.

He notes that in its appraisal, Standard & Poor’s welcomed the Government’s reform in the energy sector which will see the involvement of a Chinese investor in the state-owned corporation Enemalta, as well as the conversion of our energy generation infrastructure from oil to gas.

Prof. Scicluna also welcomes Standard & Poor’s recognition that the economic growth achieved by Malta during 2013 exceeded all expectations.

Furthermore, Prof. Scicluna notes that the credit rating agency is positive that Malta is well-placed to see through a number of key reforms, most notably related to greater female participation in the workforce, free child care centres, and also the Justice reform.

Prof. Scicluna also explains that Standard & Poor’s recognition of the successes being achieved strengthens the credibility of the Government’s plans, and confirms that the country is on the right track not only with regard to crucial reforms, but also to closing 2013 with a deficit of below 3%.
 
– Saturday 18th January 2014