Labour calls on Gonzi to clarify statistical anomalies revealed by EIU
Labour has called on Prime Minister Lawrence Gonzi to clarify statistical anomalies pointed out by the Economist Intelligence Unit (EIU) over 300% increased oil exports by Malta.
In a statement, Labour spokesman for finance and economy Charles Mangion said that government must clarify statistics, at a time when it is engaged in finalising next year’s budget.
“Government must be sure to have its numbers right, and be certain of them when appearing before the people,” Mangion said.
The statement referred to reports that revealed how the prestigious EIU poured cold water over the NSO statistic lauded by Finance minister TonioFenech, which stated that Maltese exports had risen by 54%.
It turns out that the export statistic is based on the extraordinary and inexplicable statistic which states that the export of fuel in the first eight months was €480 million.
The EIU questioned the export figure and pointed out that the 54% export increase claim is attributable to oil exports from Malta.
The EIU said: “It is unusual that Malta, which is not an oil producer, exported more oil than it imported by almost €80 million in the first half. Data for previous years do not suggest that there had been an accumulation of oil stocks in the previous years."
In his statement, Mangion said that both Prime Minister Lawrence Gonzi and finance minister Tonio Fenech should have flagged the error to their consultants, rather than publically pride themselves of the figures but cast serious doubts internationally on how statistics are collected in Malta.
