Abela sets growth, debt, and wellbeing targets at MCESD meeting

Government has set a target of improving quality of life by 25% throughout its legislature while maintaining annual economic growth of 4%, as part of a series of goals presented to social partners during a meeting with the Malta Council for Economic and Social Development (MCESD) on Monday.

Prime Minister Robert Abela addressed the media ahead of the government’s first MCESD meeting with social partners at Castille, which focused on strengthening Malta’s economy while improving quality of life.

Among the government’s targets are maintaining annual economic growth of 4%, reducing public debt from 46% to 40% of GDP by 2030, keeping unemployment at around 3%, and increasing the amount of wealth generated by high-value sectors to two-thirds.

Social partners discuss with government officials (Photo: James Bianchi/MaltaToday)

The government is also aiming to raise Malta into the eurozone’s top five economies by GDP, increase the rate of businesses using artificial intelligence to 40%, and move the country into the EU's 'strong innovators' category.

Other targets include reducing the school-leaving rate to below the EU's goal of 8.6%, raising the graduate rate above 50%, increasing renewable energy use to 25%, and keeping the social deprivation rate below 4%.

The government also aims to reduce the number of people receiving social assistance by 10%, increasing Gozo’s connectivity by 25%, and retaining Malta’s leading position in digital public services.

Progress on the manifesto will be assessed alongside a Wellbeing Index covering areas including health, housing, education, income, job satisfaction, social protection, civic participation, and environmental quality.

Photo: James Bianchi/MaltaToday

Abela said the government also intends to strengthen working conditions, such as through improving maternity, paternity, and parental leave, while increasing productivity, arguing that the two objectives must advance together.

Over the past few years, Abela explained the MCESD has evolved from a consultative forum into a more decisive platform after recent national crises, arguing that continued dialogue with social partners would be essential to improving quality of life and implementing Malta Vision 2050.

"We might not completely agree on everything, but this forum allows us to have effective conversations on how to move forward," Abela said. "That dialogue will allow us to improve Malta’s quality of life."

The forum was also addressed by Social Dialogue Minister Keith Azzopardi Tanti, MCESD chairperson Maria Micallef, Principal Permanent Secretary Tony Sultana, and Cabinet Secretary Ryan Spagnol, who gave a presentation detailing the Manifesto Implementation System.