Malta’s economy in 2009 shrunk by 3.4 per cent, not two per cent as was originally reported by the National Statistics Office, according to Labour MEP Edward Scicluna.

Prof. Scicluna said revised NSO figures showed that Malta was worse hit by the 2008 global financial crisis than initially believed, although the contraction was still healthier than the 4.1 per cent EU average. “All the hype about Malta having avoided the impact of the (economic) crisis is just that, hype. The Prime Minister should stop singing from an outdated script,” he said.

Reacting to credit rating agency Moody’s decision to downgrade Malta’s bond rating last week, Prime Minister Lawrence Gonzi said on Friday that the best way Malta’s economy could react was to keep doing “what we have been doing”. However, he added that other countries’ financial and political insecurity were taking their toll.

Prof. Scicluna said the original two per cent figure was revised by the NSO once it received updated data. It is standard practice for such GDP figures to be revised and adjusted. He said a EU Commission forecast noted a strong rebound in 2010, with GDP growth of 3.7 per cent driven by a significant rise in the export of goods.

Growth this year (2011) was predicted to slow considerably, to two per cent, with much of the growth attributable to a “significant expansion in public investment” which was likely to slow down considerably in 2012.

The forecast, he said, spoke of “very low consumer confidence” and predicted this would have a knock-on effect on private consumption. It also sounded a word of caution with regard to Malta’s external deficit. Unfavourable terms-of-trade developments, it stated were likely to worsen Malta’s external balance. The general government deficit would continue to narrow, from 3.6 per cent of GDP in 2010 to three per cent in 2011, the forecast predicts.

However, it notes that approximately two-thirds of this decline will be due to the expiry of temporary measures adopted in the 2010 budget. Air Malta’s upcoming restructuring, it suggests, may entail further government expenditure and push both deficit and debt projections upwards.

* Rapport simili ghal dak ta’  The Sunday Times  ixxandar ukoll mill-gurnal KullHadd tal-istess gurnata.

Ir-rapport tal-gurnal kien intitolat Revizjoni tal-istatistika mill-Ufficcju Nazzjonali tal-Istatistika (l-NSO) jikxfu stampa aghar tat-tmexxija ekonomika ta’ Gonzi

Rapport tal-Unjoni Ewropea jghid li bir-revizjoni li ghamel l-Ufficcju Nazzjonali tal-istatistika johrog li l-impatt tar-ricessjoni internazzjonali fuq l-ekonomija Maltija kienet ikbar milli fil-fatt irrapporta l-Gvern ta’ Malta. Ir-rapport Spring Economic Outlook tal-Unjoni Ewropea jghid li l-istatistika riveduta turi li fejn il-Gvern kien irrapporta li l-ekonomija ckienet bi 2 fil-mija, realment l-ekonomija ckienet b’hafna iktar, jigifieri bi 3.4 fil-mija.
Din ir-revizjoni tal-istatistika inzammet mohbija mill-Gvern sa ma hareg dan ir-rapport Ewropew li semmieh pubblikament ghall-ewwel darba l-Membru Parlamentari Ewropew Prof Edward Scicluna.

Dan ifisser li r-ricessjoni internazzjonali laqtet lil Malta bi kwazi l-istess mod kif ntlaqtu pajjizi ohrajn Ewropej, jikkummenta l-istess rapport tal-UE. Filwaqt li l-Gvern Malti zamm dawn il-fatturi mohbijin, pajjizi ohra accettaw l-impatt tal-krizi u bdew iharsu lejn modi kif l-ekonomija terga’ tibda tikber.

Din ir-revizjoni tal-istatistika u l-kummenti tal-Unjoni Ewropea jkomplu jifqghu l-buzzieqa tal-Gvern ta’ Gonzi li l-ekonomija Maltija kienet fuq sisien sodi u li felhet ghal dak li kien qed jigri fil-krizi finanzjarja tal-2008 u l-2009. Ir-rapport tal-UE jikkonferma dak li kkummentat l-agenzija tal-kreditu Moody’s iktar kmieni din il-gimgha li tat lil Malta certifikat negattiv ghall-mod kif Lawrence Gonzi mexxa l-ekonomija Maltija.

L-istess rapport jghid ukoll, li fl-2010 pajjizna mexa ‘il quddiem, izda bhal ma qalet l-agenzija Moody’s, li t-tkabbir ekonomiku ghal li gej se jkun moderat fuq il-livelli ta’ 2 fil-mija.

Dak li qalet l-UE dwar l-2010 ghad jista’ jinbidel jekk bhal ma gara fl-2008 u l-fl-2009 issir revizjoni tal-istatistika li turi li l-ekonomija ma kibritx daqs kemm intqal li se tikber.

Filwaqt li fl-2008, 2009 u 2010 l-ekonomija ckienet, jew ma kibritx, daqs kemm habbar il-Gvern l-inflazzjoni u l-gholi tal-hajja kompla jirranka ‘il fuq. L-inflazzjoni ta’ Malta, jghid ir-rapport Ewropew, kienet oghla mir-rata ta’ inflazzjoni ta’ pajjizi ohrajn fiz-zona Ewro u l-Unjoni Ewropea.

Dan ir-rapport Ewropew jerga’ jikxef il-qaghda reali tal-ekonomija Maltija li ghal tant zmien heba l-Gvern ta’ Lawrence Gonzi.