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Non-financial corporations generate 53.6% of economy’s gross value added
In 2011, non-financial corporations sector declined from 54.1% to 53.6% of GVA.
During 2011, the non-financial corporations sector continued to be a key player in the economy, generating 53.6 per cent of the gross value added of the total economy.
Corporations are institutional units created to produce goods and services, but government units organise and finance non-market goods and services and therefore incur final consumption expenditure.
Last year, the non-financial corporations sector declined marginally to 53.6 per cent, from a share of 54.1 per cent in 2010. On the other hand, the financial corporations sector's share edged up to 8.5 per cent, an increase of 0.6 percentage points.
The non-financial corporations generated 53.9 per cent of the total remuneration (wages and salaries plus any social contributions) paid to employees engaged in the domestic economy during 2011.
This was followed by the General Government sector, which accounted for 30.2 per cent of the total remuneration. The share of total remuneration generated by the five institutional sectors was essentially in line with that recorded for the previous year.
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This is extremely important for Malta and it must be encouraged. We cannot rely on the financial services to continue being the mainstay of the economy, wee need manufacturing and so the good news.
Therefore we need to encourage further the development of the Advanced Biofuels programme which will finally be announced this month after financial closure.
As it was recorded last year by Ms Louise Downing at Bloomberg Press this is a totally on-government sponsored inward investment of up to €100+ Million which will be managed and located in Malta and create over 140 direct long-term jobs after final building. And the fuel produced will be able to be used in Malta instead of gasoline/petrol and Diesel, both fuels are currently imported.
And according to the same Bloomberg Press release there is another project on the way from the same British Company destined for Gozo and it will also create over 100 jobs.
(No doubt this will not be included in Malta Today as it is Good News rather than Bad!)
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This is extremely important for Malta and it must be encouraged. We cannot rely on the financial services to continue being the mainstay of the economy, wee need manufacturing and so the good news.
Therefore we need to encourage further the development of the Advanced Biofuels programme which will finally be announced this month after financial closure.
As it was recorded last year by Ms Louise Downing at Bloomberg Press this is a totally on-government sponsored inward investment of up to €100+ Million which will be managed and located in Malta and create over 140 direct long-term jobs after final building. And the fuel produced will be able to be used in Malta instead of gasoline/petrol and Diesel, both fuels are currently imported.
And according to the same Bloomberg Press release there is another project on the way from the same British Company destined for Gozo and it will also create over 100 jobs.
