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Opposition sounds warning over decline in industrial production
MPs Mario de Marco and Tonio Fenech say July rise in unemployment and decline in industrial production could be worrying indicators.
12 September 2013, 12:00am
Staff Reporter
Staff Reporter
1 min read
Malta saw a substantial decrease in industrial production in July of almost 8%, Nationalist MPs Mario de Marco and Tonio Fenech said in a joint statement in which they warned of imminent challenges to the economy and manufacturing industry.
The data, issued by the EU's statistical arm Eurostat, comes hot on the heels of a 9% in unemployment in July, over the same period in 2012.
"The reduction of industrial production in Malta was the third largest in the EU, lower only than Greece and Ireland," the MPs said.
"Taken in isolation, these figures can be seen as an exception. But coupled together, they are a clear warning that our economy is losing the strong momentum it had garnered in the past years, and this is worrying.
"Our factories support thousands of families, and the decline in their rate of production is not a good foreboding for the creation of new jobs."
The two MPs said the minister for the economy, Chris Cardona, had to explain whether any new factories had been approved, extended, or what investment had taken place in Malta in the past six months since the election of the Labour government.
"It's useless to have the government say it will give importance to the manufacturing sector if it just does nothing about these results. The former administration provided specific incentives for factories facing the financial crisis in a bid not to sack 5,000 employees."
De Marco and Fenech said the government had to look into the difficulties being faced by Maltese and Gozitan factories, and produce an effective plan to see industrial production gear up.
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How long ago was it since the great pillar of the PN, the mighty Austin Gatt declared that he will make any bet that maltese industry will decline radically and augured new IT ventures. Did Mario DeMarco open his mouth criticising his partner in arms? OF COURSE NOT. Did any of the other PN stalwarts open their mouth? OF COURSE NOT. So having left their cosy seats lording us about just 6 months ago, they expect that the planned destruction of the manufacturing industry they generated would make such a U-Turn for the better in less than 6 months? That is what I call DOPPIA FACCIA, WHAT A CHEEK!! We are still suffering, and will do so for some time yet, the consequences of their incompetence at the least, and their arrogance at its best.
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How long ago was it since the great pillar of the PN, the mighty Austin Gatt declared that he will make any bet that maltese industry will decline radically and augured new IT ventures. Did Mario DeMarco open his mouth criticising his partner in arms? OF COURSE NOT. Did any of the other PN stalwarts open their mouth? OF COURSE NOT. So having left their cosy seats lording us about just 6 months ago, they expect that the planned destruction of the manufacturing industry they generated would make such a U-Turn for the better in less than 6 months? That is what I call DOPPIA FACCIA, WHAT A CHEEK!! We are still suffering, and will do so for some time yet, the consequences of their incompetence at the least, and their arrogance at its best.
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Have these moaners forgotten Wistinu's cry regarding manufacturing in general, and textile production in particular?
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Are they serious? Decline in industrial production has been on for years now and PN has always advocated the services sector's growth claiming that manufacturing was in decline all over Europe. This government is intent on reversing the trend. We are seeing more initiatives are now gradually taking place that will bear the desired results. But then, everything considered, this government has only been in office for six months. And by the way we have already seen some progress in our GDP growth.
Luke Camilleri •
Has Simon lost his voice or is he still in shock with his surprise at the China deal ? ;)
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Ah x'biza! Insew li sehibhom Austin Gatt li gab lil EneMalta gharkubtejha ghamel imhata li ma jibqax fabbrika wahda tal-hweejeg f'Malta?
Dawn l-istess nies li fallew lil pajjiz bid-dejn, bid-deficits u li Partit taghhom stess? Mur afdhom erga!
Rita Pizzuto •
Be patient NP? The new government has only been there six months and is still trying to smooth the way for new employment. Right now we are still suffering from the 25 years of devastation left in every sector by the NP. In a few months time Malta will start profiting from the wise decisions of the new government. Just wait and see.
