Deficit to be reduced to 3% by end of year

The announcement was made by Prime Minister Lawrence Gonzi tonight in a speech that closed the Nationalist Party’s celebrations marking Independence Day.

In a speech where he repeatedly questioned the Opposition’s credentials as a government in waiting, Lawrence Gonzi said that contrary to the turbulent times that are dominating the world’s economy, his government has managed to reduce its deficit, and will bring the deficit down to the Maastricht criteria by the end of the year.

“We have worked hard and responsibly, even though the scenario around us was and continues to remain bleak,” the Prime Minister said, adding that contrary to the constant criticism from the Opposition, when asked to say what are the alternate economic policies in store, Labour says that one must wait until the elections for them to be revealed.

Applauded by the crowds that filled the Granaries in Floriana, an upbeat Prime Minister spoke at length about his government’s achievements over the past three years of the current Legislature.

He expressed satisfaction to note that during the last year, Malta’s economy grew by three per cent, growth that has been amongst the highest in EU.

“During the first six months of this year, we have managed to see a record rate of exports that reached a staggering 45% increase,” he said.

Gonzi stressed that the creation of jobs was his government’s main priority at any given time, and took satisfaction to note that during this past year alone, some 6,000 new jobs have been created, while unemployment has been amongst the lowest in the European Union.

“The last time you trusted Labour in government, unemployment was rife,” Gonzi said, adding that in the financial services alone, 1,000 new jobs were created, while more job opportunities are possible due to new investments which are due to be announced in the coming months.

“These results were possible notwithstanding the fact that the world was in a recession, and the prospects for the future are not so bright as even the biggest economies are crumbling,” Gonzi said, adding that the current scare coming from Italy’s risk of default does not augur well.

Giving an example on his government’s performance in job creation, Gonzi said that his government created 12,000 more jobs than when a Labour government led by Alfred Sant was in office in 1998.

The Prime Minister said that he has given clear instructions to all heads in governmental departments to be practical and not bureaucratic when dealing with jobs and handling prospective investment.

While admitting that some sectors, such as agriculture and fisheries may be facing difficulties given the realities of increased prices for fodder and market constraints, government he said was working hard to support farmers, breeders and fishermen.

On Air Malta, the Prime Minister announced that in the coming days, the airline will be issuing early retirement schemes, which he augured would be taken up.

“My government will continue to do its utmost to save the company, but we need the trade unions and the workers to be on board,” he said.

The Prime Minister spoke about his governments constant investments in health, education and the environment, where millions of euro’s have been invested for the benefit of all the population and the generations to come.

The crowds applauded the Prime Minister when he spoke about the Libyan people’s quest for freedom and democracy, and criticised the Labour Party for having kept silent until the fall of Tripoli to condemn the Gaddafi regime.

“I did not shy away from my responsibilities to stand by our neighbours, and in your name, I condemned Col. Gaddafi’s bloody delirium,” Gonzi said, while appealing once more to Col. Gaddafi to surrender, lay down arms and to hand himself over to the International Court of Justice to be tried for genocide.

The Prime Minister’s speech was preceeded by PN secretary general Paul Borg Olivier, who said that the “PN never tainted its hands with blood money from the Gaddafi regime.”

Borg Olivier added that “Labour has never come clean on how much money it received from Gaddafi’s regime,” and challenged Labour to refund that money to the Libyan people.

Muscat he said, must call for the party’s international secretary Alex Sceberras Trigona to  take responsibility for his close ties with Col. Gaddafi’s regime and resign.