Malta has Highest Unemployment Rate In The EU

[Gladiator]

Unemployment closing in on EU average

TOM (icamilleri@timesofmalta.com) 4/6/2006

Malta's unemployment rate, based on statistics compiled by Eurostat, the EU's statistical office, is rapidly closing in on the EU average.
New figures released yesterday shows that in February, Malta's unemployment rate reached eight per cent, an increase of almost one percentage point over the past 12 months. On the contrary, unemployment levels in the EU seem to be dropping, with the EU 25 average in the same month ranking at 8.5 per cent, down from 8.9 per cent in February 2005.
Malta's unemployment rates during the past year have been increasing gradually from 7.1 per cent in February 2005. In fact, in the past 12 months Malta's unemployment levels have seen the second highest relative increase in the EU.
Eurostat said that in February, 17 member states recorded a decrease in their unemployment rate over a year, two remained stable and five reported an increase.
The largest relative falls were observed in Estonia (8.8 to 5.9 per cent), Lithuania (9.5 to 6.6 per cent), Denmark (5.3 to 4.4 per cent), Latvia (9.4 to eight per cent) and Spain (9.9 to 8.7 per cent). The highest relative increases were registered in Hungary (6.7 to 7.6 per cent), Malta (7.1 to eight per cent), Luxembourg (five to 5.4 per cent), the United Kingdom (4.6 in December 2004 to 4.9 per cent in December 2005), and Portugal (7.3 to 7.7 per cent).
Eurostat estimates that in February 2006 there were 18.4 million people unemployed in the 25 EU member states.

This is unacceptable?

[Eurodip]

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[Gladiator]

Deficit down to 3.3 per cent

TOM April 21, 2006

The general government net borrowing (or deficit) last year was estimated at Lm63.7 million, compared with a net borrowing of Lm93.6 million for 2004, the National Statistics Office said yesterday.

Last year, general government net borrowing was equivalent to 3.3 per cent of Gross Domestic Product, compared with 5.1 per cent in 2004.
At the end of 2005, the general government nominal gross consolidated debt amounted to Lm1,927.1 million, or 74.7 per cent of GDP, compared with Lm1,830.4 million, or 76.2 per cent of GDP at the end of 2004.


These figures have to come down. 74.7 % of the GDP is still too high. It has to come down to 65% of the GDP. Considering that growth is at 1.8% of the GDP?:eek: