Much achieved, but more to be done says PM on Malta's improved Fitch rating

Prime Minister Joseph Muscat has expressed renewed optimism in reaction to the recent upgrading on the status of the Maltese economy by international credit rating agency Fitch from “stable” to “positive.”

Muscat pointed out that the international agency had no local political interests and predicted continuing growth in the economy “where wealth continues to grow and be better distributed amongst everyone.”

“Our message is that there is a lot more to be done. The success we have achieved is not the destination, but the point of departure for much greater successes.”

The PM observed that while the number of youths in employment had increased and that the government had “delivered a blow” to poverty in the past 10 years, it was yet to be defeated.

Muscat said that the Maltese and Gozitan people were aware of the increase in job and wealth creation. “We have the fastest-growing economy in Europe, the lowest rate of unemployment,” he added.

He lauded what he described as the creation of a “new middle-class” through a 40% reduction of dependants on social benefits. “We didn't achieve all this alone, but through a collective effort.”