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Unemployment rate remains a steady 2.4% – NSO
In December 2023, the seasonally adjusted monthly unemployment rate remained steady at 2.4%, matching the previous month. This reflected a decrease of 0.6 percentage points from December 2022. The total number of unemployed individuals was 7,558,
with the 25 to 74 age group contributing significantly to overall unemployment. Specifically, 2,032 unemployed youths were reported, while 5,527 individuals aged 25 to 74 were unemployed.
Annual growth in business activity slightly above long-term average, Central Bank says:
In December, the Central Bank of Malta reported that annual business activity growth slightly exceeded the longterm average. The European Commission’s economic confidence indicator surpassed its long-term average, along with increased employment expectations. Price expectations varied among sectors, rising for services and consumers but declining elsewhere compared to November. 2023 price expectations dropped notably in retail and industry but surged in construction compared to the 2022 average. Activity indicators showed mixed results, with slower industrial production growth and a rebound in retail trade. Residential and commercial permits declined in November, but promise-ofsale agreements and final deeds increased in December. The Consolidated Fund registered a larger deficit in November, attributed to increased expenditure and reduced revenue compared to the previous year.
Recording hints at other masterminds behind Daphne murder, defence says
Yorgen Fenech’s legal representatives informed the court about recent revelations regarding correspondence from Italian
prosecutors. This communication mentioned a recording provided to Italian authorities, suggesting potential masterminds who paid to orchestrate the assassination of Daphne Caruana Galizia, and
notably, Fenech was not implicated as one of them. Lawyer Charles Mercieca disclosed that the
recorded conversation involved two Maltese individuals, with one admitting to paying around €40,000
to eliminate Caruana Galizia. The conversation, reportedly captured using a watch, has raised concerns
about the prosecution’s obligation to present all evidence for and against the accused during the
ongoing legal proceedings. (Maltatoday)
Morning Briefing
Majority of Cabinet members would approve of Muscat’s MEP run – reports
The prevailing sentiment among the majority of cabinet members is one of support for Joseph Muscat as a potential candidate in the European elections, with many expressing their willingness to publicly endorse him. This comes as the former PM contemplates a possible return to politics. Out of the 26 cabinet ministers and parliamentary secretaries contacted by Times of Malta in the past two days, 15 confirmed their endorsement of Muscat as a candidate, should he decide to run for the European Parliament in the upcoming June elections. Notably, no cabinet member voiced any objection to Muscat rejoining the political landscape under the Labour ticket. (Times of Malta)
Grech calls out Abela’s welcoming of Muscat as ‘decline in morality’
Opposition leader Bernard Grech condemned the perceived “ineffective leadership” of the Labour Party under Robert Abela, contending that it is having a detrimental impact on the overall governance of the nation. Speaking at a political event in Gozo, Grech underscored the repercussions of Abela’s leadership, citing escalating challenges in healthcare and transportation, along with the adverse effects of inflation that are being felt by the populace. Grech went on to assert that Abela’s shortcomings extend beyond his leadership approach, noting a perceived decline in morality on the part of the PM, particularly when seemingly opening the doors for a return to the political scence of his predecessor, Joseph Muscat. (MaltatodaY)
Investigation order into IM CEO Frederick Azzopardi on MArsa project
The European Public Prosecutor’s Office (EPPO) has been granted an investigation order into former CEO of Infrastructure Malta, Frederick Azzopardi. The investigation is based on a “reasonable suspicion” of money laundering, bribery, and fraud that affect the financial interests of the EU, according to reports from news media. Judge Neville Camilleri reportedly granted the investigation order, requiring over 80 entities, including government entities linked to Azzopardi, to provide investigators with access to relevant documentation. Th EPPO is investigating whether Azzopardi received funds from Yorgen Fenech, who is awaiting trial for the murder of Daphne Caruana Galizia, or any other individuals in connection with the €40 million Marsa junction project. (Newsbook)
