Acquisition of bonds at end-September surpasses 2009 total

Finance Minister Tonio Fenech said this yesterday during a visit to Rizzo Farrugia stockbrokers, one of the first companies in this sector that opened in Malta.

Fenech announced that until the end of September 2010, between Government bonds and stocks, a total of €963 million had been purchased, that is €163 million more that the total purchased last year”.

He explained that in this sector there had been “a positive response from investors and that the large demand that there is augurs well for the future”.

Fenech claimed that Malta had continued growing in the competitiveness rankings, however “we must learn from other countries so as not to go in the same direction”.

“Despite these positive signs, the government was doing its utmost to foster this growth,” he was quoted as saying.

He recalled how the Government was offering “training that is new for our country, including in the financial sector”

Fenech also reminded how in the Angelou Economics report, the company that prepared a study on the Vision 2015, had forecast that in the next five years, the financial services’ sector could increase its employment by 1,600.