Government hails growth in bank deposits

The government has toasted the recent growth in bank deposits, which reached €9.7 billion, according to Central Bank statistics.

In a statement, the government said that bank deposit savings have increased by €2 billion (26%) since Labour’s election to government in March 2013.

It added that Maltese families are saving three times as much money per day as they had on average under the previous administration and that this rise in bank deposit savings has not come at the cost of private consumption.

“We welcome this latest confirmation that families are enjoying the fruit of Malta’s economic growth,” the government said. “We remain committed towards introducing further measures to create and distribute wealth to improve families’ socio-economic situations.”