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USA UK and Malta News
24/02/2012 - 19:46

Malta news: growth forecasts

Malta news: growth forecasts - Brussels lowers Maltese, eurozone growth forecasts - Motor-Sport: ASM launches the Trials championship and more Autocross races - Rapist jailed 10 years.

Malta news: growth forecasts
Brussels lowers Maltese, eurozone growth forecasts
The unexpected stalling of economic recovery across the European Union in late 2011 yesterday prompted the European Commission to slash 2012 growth forecasts for the eurozone and for Malta in its Autumn Spring Economic Forecast. Malta’s economic growth forecast for this year was revised down from the 1.3% forecast back in November to 1%, while the eurozone’s forecast growth was cut by 0.3% to -0.3%. The EU’s growth forecast, meanwhile, remained at 0%. In its report, the Commission specified that Malta’s downward revision “primarily reflects the impact of the projected further slowdown in the euro area”, but warns matters could worsen much more should Malta’s “very large banking system” begin to suffer from domestic credit exposure or should tourism figures begin to diminish. The Commission warned in its report: “The forecast is subject to downside risks emanating from possible negative feedback loops between the very large banking system and the real economy in case of a further worsening of the quality of the credit portfolio, especially in view of the already elevated share of non-performing loans and high exposure to the real estate sector. “In addition, the hit through the trade channel could be larger than anticipated, for instance because of the heavy reliance of the tourist sector on the euro-area market.”(independent.com.mt) Although Malta is being cut its growth statistics, but it may matter, you just have to work and earn money of course.

Motor-Sport: ASM launches the Trials championship and more Autocross races
The first event of the ASM-Pasta Poiatti Trials Championship will commence at 9am next Sunday at the ASM Racing Circuits at Ta Qali. After 10 years Trials will be participating in this first Championship event following an intensive training programme in the Trials riding nursery at the ASM Race Circuits. John and Eddie Bonello are running the Trials nursery every Saturday afternoon from 2pm. Next Sunday’s event starts at 9am where the competitors are expected to tackle no less than 15 obstacle sections. Autocross races follows from noon. A look into the Autocross points charts shows us that Christian Galea is at the Top of the scale with 56 points on his Fiat Ritmo. Patrick Cassar on his silver/yellow Opel follows with a 10 points gap and 3rd classified is Emanuel Muscat on another Opel with 28 points. Class B leader is Mario Scicluna with 26 points. Matthew Borg on a Vauxhall Nova follows with 24 points and 3rd classified is Philip Grima with 15 points on his Mk3 Escort. The race for the leadership and runner-up is still on with five (5) more events to go.(independebt.com.mt) Motor racing is an entertainment that may possibly stimulate the economy.

Rapist jailed 10 years
A man who raped his 13-year-old nephew and eight-year-old niece over a period of four to five years until 2007 was today jailed 10 years. The man also abused their five-year-old cousin. The father of the raped brother and sister filed a police report when his daughter told a friend's mother what happened. The man was diagnosed with clinical depression and had been admitted to Mount Carmel Mental Hospital in the 1970s. He was sexually abused when he was younger.(timesofmalta.com) Unfortunately this kind of phenomenon does not happen only on TV.

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