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Raisa Galea: What is the state of Malta\u2019s economy at the moment? In terms of employment and wages, how does Malta compare to the other EU countries?<\/b><\/p>\n
Geoffrey Saliba:<\/b> The economy is booming. Over the past few years, economic growth in Malta measured at around <\/span>5.7 percent<\/span><\/a> which significantly exceeded the EU average of <\/span>2.2 percent<\/span><\/a>. Of course, after the period of growth, usually the economy plateaus, followed by the period of stagnation. However, there are no signs that Malta\u2019s economic growth is cooling down anytime soon.<\/span><\/p>\n Malta is breaking records when it comes to employment too. Indeed, the country doesn\u2019t meet the current demand for workers and is importing labour from overseas. In terms of wages, the situation is not as bright. The available statistics is quite limited; thus a rigorous analysis of wages is a tricky task.<\/span><\/p>\n There is a large cross-sectoral wage disparity. The public sector employs predominantly Maltese nationals, whereas the private sector relies on international workforce which constitutes <\/span>30 percent<\/span><\/a> of its employees. In the lucrative online gambling sector, the executive pay could be over <\/span>100,000 Euros per annum <\/span>and non-graduates can aspire to salaries of <\/span>35,000 <\/span>Euros. This sector attracts employees mainly from Northern Europe.<\/span><\/p>\n <\/p>\n [perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]Lowest paid jobs\u2014waste collectors, cleaners, caregivers, waiters\u2014are also performed mainly (but not exclusively) by guest workers.<\/em>[\/perfectpullquote]<\/p>\n <\/p>\n Lowest paid jobs\u2014waste collectors, cleaners, caregivers, waiters\u2014are also performed mainly (but not exclusively) by guest workers. The wages in these sectors are as low as minimum wage which is <\/span>745 Euros per month <\/span>(around 8,950 Euros per annum). Such a pay is not sufficient to cover basic expenses on food, clothes and housing rent. At the same time, the lucrative sectors are driving up the cost of living across the board; the price of housing has exploded, and so low income earners are now struggling.<\/span><\/p>\n <\/p>\n What is the current situation with social security in Malta? Is social security a topic of political debates?<\/b><\/p>\n A report published by the National Statistics Office titled \u2018The European Statistics on Income and Living Conditions\u2019 estimates over <\/span>80,000 people<\/span><\/a> (19.2 percent of the population) <\/span>being at risk of poverty; this worrying situation is caused by the <\/span>increasing<\/span> cost of living. The divide between the richest and the poorest parts of the population is growing. Although the government acknowledges the problem, the issue does not seem to be on the fore of political debates. There is, however, an ongoing discussion around poverty led by civil society organisations.<\/span><\/p>\n In Malta, welfare includes free healthcare\u2014whose quality is among the best in Europe\u2014and free education up to the university level. Apart from the state-provided welfare, family networks and friends also act as a private safety net\u2014it is one of Malta\u2019s specific social characteristics. Still, not all individuals can count on support from the networks because they may not be part of them. Such individuals face a higher risk of falling through the safety net, which is why the welfare issue merits more attention.<\/span><\/p>\n <\/p>\n You conducted a research on the possible <\/b>Universal Basic Income<\/b> (<\/span>UBI) framework in Malta. Could you please share your findings? What would it amount to? How would it be financed?<\/b><\/p>\n