Statistics ‘proving PN’s pre-electoral business warnings wrong’

Economy minister Chris Cardona said that the PN’s pre-electoral warnings that businesses will start leaving Malta if Labour wins the election have already been proved wrong.

Speaking in his parliamentary adjournment, Cardona cited recent statistics that show that the Maltese economy grew by 4.2% in the first three months of 2017 – over double the average Eurozone increase.

He said that investment in Malta reached €165 million in the first quarter of 2017, a statistical record for that quarter and 57% higher than what the last PN government had registered in its final quarter.

Moreover, the gaming and financial sectors continued to expand, “despite the systematic attacks by the PN and its friends”.

During his election campaign, outgoing PN leader Simon Busuttil had warned that a victory for Labour would send a message to the world that the Maltese people have green-lighted government corruption.

He claimed that the financial services industry will pack its bags, and that this will have a negative ripple-effect on the real estate and construction sectors.

“The PN and some other organisations tried to reap fear during the election campaign that businesses will leave Malta if Labour wins the election,” Cardona said, “Despite that fear campaign, this was the best time for investment in Malta.”