IMF lauds Malta’s impressive turnaround but warns of modest economic growth
The International Monetary Fund (IMF) in its latest report about Malta, lauded the government’s efforts in 2011 to take “effective action to correct its excessive deficit, shoring up confidence in Malta’s public finances” but at the same time warned that “the fragile external environment has created new risks to growth and financial stability”. The IMF is estimating a modest growth rate of 1% in real terms for this year when the eurozone might face a mild recession, but is predicting a more positive outlook from 2013 onwards when the economy is expected to grow by 1.8%. According to the IMF, economic growth is expected to increase marginally in the following two years with rates of 2% and 2.2% respectively for 2014 and 2015. In its economic indicators, the IMF report states that unemployment this year will increase by 0.2% to 6.6% but will be on the decline from next year until it reaches 6.3% by 2015. As for the government debt, this year this is expected to be in the region of 71.5% of the Gross Domestic Product (GDP) but is expected to decrease gradually from 2013 down to 67.6% by 2015. While the government this year has managed to keep its deficit below 3% of GDP, which is the EU’s benchmark, the overall government general debt is still significantly above the 60% EU benchmark. Minister of Finance Tonio Fenech welcomed the conclusions of the IMF report, describing it as another vote of confidence in the government’s economic strategy. On the other hand, he said that this report rubbishes claims by the opposition that the government is losing control of the public finances and is not stimulating economic growth.(independent.com.mt) Indeed it is better to strong economic growth.
Alcohol consumption among young people: Research finds that only real solution is total ban on advertising
New research carried out as part of the Ammie (Alcohol Monitoring Marketing in Europe) project concludes that a total alcohol marketing ban is the only safe way to protect young people against the harmful effects of televised alcohol marketing. Young people in Europe are regularly confronted with alcohol advertising on television. New European research shows that the so-called self-regulation of alcohol marketing does not protect young people against the exposure of alcohol commercials. “The restrictions in place via the self-regulation codes in the five European countries where the research was carried out do not protect young people against appealing alcohol advertising and product promotion.” This conclusion is in conflict with recent statements of the alcohol industry, which claims that self-regulation is functioning perfectly and has to be expanded. The new research is part of the Ammie project, which is co-financed by the European Commission and coordinated by the Dutch Institute for Alcohol Policy (Stap). The research was carried out in Bulgaria, Denmark, Germany, Italy and the Netherlands in cooperation with the John Hopkins Bloomberg School for Public Health in the US. The project shows that a minor in the five participating countries was exposed to an alcohol commercial 970 million times during the months May and October 2010 via three popular TV channels. In Bulgaria, a minor was exposed 36 million times, in Denmark 10 million times, in Germany 610 million times, in Italy 54 million times and in the Netherlands 54 million times. Given the 22 million minors living in these five countries, the conclusion is that on average one minor was exposed to a total of 44 alcohol commercials on the three TV channels during the two months.(independent.com.mt) Advertising of alcohol does not necessarily deserve to be abolished.
Man, 72, dies in Sliema blaze
A 72-year-old man died this evening when a fire enveloped part of a house in Blanche Street, Sliema. The fire was noticed at about 8 pm. Firemen from the Civil Protection Department rescued the man and a medical team gave emergency assistance on site, but their efforts proved to no avail and the man passed away.(timesofmalta.com) Older people are full of knowledge.
The International Monetary Fund (IMF) in its latest report about Malta, lauded the government’s efforts in 2011 to take “effective action to correct its excessive deficit, shoring up confidence in Malta’s public finances” but at the same time warned that “the fragile external environment has created new risks to growth and financial stability”. The IMF is estimating a modest growth rate of 1% in real terms for this year when the eurozone might face a mild recession, but is predicting a more positive outlook from 2013 onwards when the economy is expected to grow by 1.8%. According to the IMF, economic growth is expected to increase marginally in the following two years with rates of 2% and 2.2% respectively for 2014 and 2015. In its economic indicators, the IMF report states that unemployment this year will increase by 0.2% to 6.6% but will be on the decline from next year until it reaches 6.3% by 2015. As for the government debt, this year this is expected to be in the region of 71.5% of the Gross Domestic Product (GDP) but is expected to decrease gradually from 2013 down to 67.6% by 2015. While the government this year has managed to keep its deficit below 3% of GDP, which is the EU’s benchmark, the overall government general debt is still significantly above the 60% EU benchmark. Minister of Finance Tonio Fenech welcomed the conclusions of the IMF report, describing it as another vote of confidence in the government’s economic strategy. On the other hand, he said that this report rubbishes claims by the opposition that the government is losing control of the public finances and is not stimulating economic growth.(independent.com.mt) Indeed it is better to strong economic growth.
Alcohol consumption among young people: Research finds that only real solution is total ban on advertising
New research carried out as part of the Ammie (Alcohol Monitoring Marketing in Europe) project concludes that a total alcohol marketing ban is the only safe way to protect young people against the harmful effects of televised alcohol marketing. Young people in Europe are regularly confronted with alcohol advertising on television. New European research shows that the so-called self-regulation of alcohol marketing does not protect young people against the exposure of alcohol commercials. “The restrictions in place via the self-regulation codes in the five European countries where the research was carried out do not protect young people against appealing alcohol advertising and product promotion.” This conclusion is in conflict with recent statements of the alcohol industry, which claims that self-regulation is functioning perfectly and has to be expanded. The new research is part of the Ammie project, which is co-financed by the European Commission and coordinated by the Dutch Institute for Alcohol Policy (Stap). The research was carried out in Bulgaria, Denmark, Germany, Italy and the Netherlands in cooperation with the John Hopkins Bloomberg School for Public Health in the US. The project shows that a minor in the five participating countries was exposed to an alcohol commercial 970 million times during the months May and October 2010 via three popular TV channels. In Bulgaria, a minor was exposed 36 million times, in Denmark 10 million times, in Germany 610 million times, in Italy 54 million times and in the Netherlands 54 million times. Given the 22 million minors living in these five countries, the conclusion is that on average one minor was exposed to a total of 44 alcohol commercials on the three TV channels during the two months.(independent.com.mt) Advertising of alcohol does not necessarily deserve to be abolished.
Man, 72, dies in Sliema blaze
A 72-year-old man died this evening when a fire enveloped part of a house in Blanche Street, Sliema. The fire was noticed at about 8 pm. Firemen from the Civil Protection Department rescued the man and a medical team gave emergency assistance on site, but their efforts proved to no avail and the man passed away.(timesofmalta.com) Older people are full of knowledge.