Politics and Economics of Malta

Politics

Regime

Malta is a republic with a neutral policy. In September 1998, after the KMT came to power, the internal and external policies of Malta were greatly adjusted, and a series of reform measures were carried out in the fields of finance, finance, taxation, justice, education and health care. The application for re accession to the European Union was resumed, the accession negotiations were reopened and significant progress was made. At the end of 2002, the negotiations on Malta’s accession to the European Union were concluded with the European Union. In March 2003, a referendum was held, with 53% of the population supporting EU accession. On April 16, foreign countries officially signed the Treaty of accession to the European Union with the European Union. Ma joined the European Union on May 1, 2004. In April 2003, the Kuomintang was in power again. We will further strengthen relations with countries on both sides of the Mediterranean Sea and continue to play a bridge role in Europe Mediterranean cooperation [2] Ma joined the EU on May 1, 2004, and accelerated his integration into the EU. Domestically, Malaysia has made major adjustments to its economic and social policies, implemented a series of reform measures in the fields of finance, finance, taxation, justice, education and medical care, and the economy has begun to improve It joined the Schengen area in December 2007 and officially opened the euro in January 2008. To foreign countries, we should strengthen friendly relations with EU members, consolidate cooperation with countries on both sides of the Mediterranean, promote cooperation between the EU and the Arab League, support the establishment of the Mediterranean Union, and continue to develop relations with foreign countries and emerging powers, such as the United States, Russia, China, India, Australia, South Africa, Brazil, Turkey, etc. First rotating EU presidency in the first half of 2017

Constitution

The independent constitution promulgated on September 21, 1964 stipulates that Malta is a constitutional monarchy and the queen of England is the head of state of Malta. On December 13, 1974, the constitution was amended, and Ma became a republic, but remained in the Commonwealth. The president is the head of state, nominated by the prime minister and voted by Parliament for a term of five years [2-3]

Parliament

The one chamber system, known as the house of Representatives, is elected by universal suffrage for a term of five years and is the legislature. This Parliament was elected in June 2017, with 67 seats in total, of which 37 are Labor Party (ruling party), 28 are Kuomintang (opposition party) and 2 are democratic choice party. Angelo Farrugia, speaker of Parliament, took office in April 2013 and was re elected in June 2017.

Government

In June 2017, Joseph Muscat was re elected prime minister. Cabinet members include Chris fearne, Deputy Prime Minister and Minister of health, Christian Cardona, Minister of economy, investment and small business, evarist Bartolo, Minister of education and employment, Joe mizzi, Minister of energy and water, Helena dalli, Minister of European and equity affairs, Female), Edward sciluna, Minister of finance, Konrad mizzi, Minister of tourism, Michael Farrugia, Minister of interior affairs and national security, Owen bonnici, Minister of justice, culture and local government, Jose herrara, Minister of environment, sustainable development and climate change Carmelo Abela, Minister of foreign affairs and trade promotion, Ian Borg, Minister of transport, infrastructure and large projects, Justine Caruana, Minister of Gozo, Michael Falzon, Minister of family, children’s rights and social solidarity, and sear, Secretary of state for financial services, digital economy and innovation Silvio schembri, State Secretary for reform, citizenship and simplification, Julia Farrugia Portelli (female), State Secretary for youth, sports and volunteer organizations, Clifton GRIMA, State Secretary for EU finance and social dialogue, Aaron Farrugia, di Silvio parnis, Secretary of state for government and community affairs, Deo debuttista, Secretary of state for consumer protection and 2018 valleta, Secretary of state for agriculture, fisheries and animal rights, Clint carmilleri, Secretary of state for planning and real estate market affairs, Chris AGUS Chris Agius, Roderick galdes, Secretary of state for social affairs, Tony Agius decilis, Secretary of state for disabled and elderly affairs, etc.

Judicial

The high court is the supreme judicial body, composed of a chief justice and 16 justices, appointed by the president on the recommendation of the prime minister and serving until retirement at the age of 65. The current chief justice is Joseph Azzopardi, who took office in 2018. Attorney general Dr. Peter Grech took office in 2010

Party

(1) Labor Party (PL): the ruling party. Founded in 1921, most of the party members are working class. It advocates “citizens first” internally, equal power, gradual weakening of religious forces, the establishment of an independent economy, the participation of trade unions in enterprise management, and the sale of shares in some state-owned enterprises. He advocated neutrality and nonalignment, did not join any military group and opposed Malaysia’s accession to the EU. However, he expressed respect for the choice of the Malaysian people after Malaysia’s accession to the EU and attached great importance to relations with Mediterranean countries. The current leader, Joseph Muscat, took office in June 2008.

(2) the Kuomintang (PN): the main opposition party. Founded in 1880, the party members are mainly businessmen, teachers, lawyers and farmers. He advocated to build the horse into a Catholic, European traditional and national spirit, free and just democratic country. The foreign side advocates strengthening ties and cooperation with European countries and Mediterranean countries. The current leader, Adrian Delia, was elected in September 2017.

(3) the alternative Democratic Party (AD), also known as the green party, was founded in 1989. It is a member of the European Green Party and has no seat in the Malaysian Parliament. It focuses on environmental and social issues. In the 2013 general election, the party’s support rate was less than 2% In May 2014, the election of members of the European Parliament was mediocre. Arnold cassola, the current president, took office in June 2013 [2-3]

Dignitaries

Marie Louise coleiro Preca: woman, President,

Born in December 1958. Graduated in law and Anthropology from the University of Malta. In his early years, he joined the Maltese Labor Party and took an active part in politics. From 1982 to 1991, she became the first woman ever to hold a senior position in such a party. He was elected MP MA in 1998 and has been re elected. As a member of the opposition, he served successively as Minister of shadow cabinet in the fields of social policy, tourism and health, and has been a member of the Social Affairs Committee since 1998. Labour was appointed Minister of family and social solidarity after winning the general election in 2013. President Ma took office in April 2014. Married, one woman.

Joseph Muscat: Prime Minister, leader of the labour party. Born in January 1974. He graduated from the University of Malta with a bachelor’s degree in business management and public policy, a master’s degree in European Studies and a doctor’s degree in management studies from the University of Bristol in 2007.

He was a reporter of the labor TV station, director of the news department of the labor TV station and editor in chief of the labor online newspaper. 1994-1997 Finance Secretary and acting chairman of the Labor Youth Forum. 1994-2001 member of the national executive committee. He was Secretary of education from 2001 to 2003. President of the Labor Party’s annual meeting in 2003. Elected to the European Parliament in 2004 as vice chairman of the economic and Monetary Commission. He was elected leader of the Labor Party in June 2008, resigned from the European Parliament in September, and was elected a member of the majlis in October and became leader of the opposition party. In March 2013, he led the labor party to win the general election, formed a new government and became prime minister. Re elected in June 2017. He has visited China four times. Married, with twin daughters.

Economics

Natural resources are poor, technical personnel are scarce, the industrial base is weak, food is basically dependent on imports, and foreign trade has a long-term deficit. Tourism, shipbuilding and ship repair are its traditional industries, among which tourism is an important source of foreign exchange. Since joining the EU in 2004, the government has been vigorously adjusting the economic structure, launching a series of reform measures, and the macro-economy has been improving. In addition, a large amount of EU aid also injected vitality into the Malaysian economy, which achieved continuous economic growth and successfully joined the euro area in early 2008. Thanks to strict financial management system and conservative and prudent credit investment tradition, and few foreign companies in the market, the Malaysian financial system and stock market were not directly impacted by the 2008 international financial crisis. However, affected by the sluggish overseas market, the decline of import and export and domestic demand, the economic growth of Malaysia began to slow down and fell into recession at the end of 2008. The economic growth rate of that year was only 1.6%. GDP shrank by 2.1% in 2009. In order to alleviate the impact of the crisis, in 2010, the government invested about 90 million euros to formulate the economic stimulus plan, and adopted a series of measures such as increasing the deposit reserve ratio, implementing the interest subsidy of tourism loans, and customizing the capital assistance for enterprises, so as to stabilize the market, guarantee employment, attract investment and stimulate the economy. Malaysia’s economy began to recover, and the tourism industry and emerging financial services industry resumed growth. In 2017, the gross domestic product of Malaysia was about 9.6 billion euros, an increase of 6.6% year on year. In 2018, Malaysia’s GDP is expected to grow by 5.6% and maintain a fiscal surplus for three consecutive years; the unemployment rate is 3.9%, the lowest in the EU. The Malaysian government vigorously develops emerging industries such as digital finance and artificial intelligence, with a view to creating a “digital economic highland”

Currency

Since joining the euro area in 2008, the currency used in Malta is Euro, and the former currency used in Malta is Maltese lira (LM), which used to be the second most valuable currency in the world.

Manufacturing industry

Like other developed countries, the output value of manufacturing industry has been declining in recent years. At present, it only accounts for about 8% of GDP, which is lower than the overall level of western countries; the proportion of employees in the total labor force is less than 20%. The main products are electronic, chemical, mechanical equipment, medicine, food and beverage, etc [3]

Science and technology

The government of Malta has signed a cooperation agreement with the European Space Agency in the hope of further cooperation on the ESA project.

Agriculture

The poor land, limited arable land (11453 hectares) and serious water shortage restrict the development of agriculture. In 2017, the output value of agriculture and fishery accounted for 0.2% of GDP, and the full-time agricultural population was less than 2000. Many agricultural population turned to service industry, resulting in the part-time agricultural population no longer taking agricultural income as the main source of income. Agricultural industry mainly includes feed, vegetables, fruits, flowers, potatoes, livestock, livestock by-products, etc. Most of the food, milk, vegetable oil, fruit and so on are imported [3]

Finance and Finance

In recent years, Malaysia’s public finance is generally in good condition, with positive achievements in GDP growth, reduction of structural deficit and public debt. Affected by the international financial and economic crisis, Malaysia’s financial situation has reversed since 2008. In 2009, the government deficit reached 285 million euros, accounting for 5.1% of GDP; the government debt exceeded 3.9 billion euros, accounting for 67.6% of GDP. In 2017, the national fiscal surplus was 31.5 million euros, the best period in 35 years. Government debt fell to 54.93% and is expected to fall below 50% in 2018 [3]

Tourism

Tourism is the pillar of Malaysian economy and the main source of foreign exchange, but it also faces structural problems such as price and quality.

The tourism industry grew significantly in 2007 as incentives introduced by the government in 2006 attracted some budget airlines to start operating in Malaysia. However, due to the impact of the international financial and economic crisis, since the fourth quarter of 2008, the horse tourism industry has declined significantly, and the number of tourists to Malaysia decreased by 8.4% in 2009. In 2010, the number of tourists to Malaysia was about 1.33 million, up 13% year on year. In 2017, the number of visitors to Malaysia was about 1.98 million. Britain, Italy, Germany, France and other EU countries are the main source countries of tourists to Malaysia [3]

Foreign trade

Malaysia has a long-term deficit in foreign trade. The EU has always maintained its position as the largest trading partner of Malaysia, accounting for nearly three quarters of the country’s foreign trade, with Britain, France and Italy as the main trade target countries. Mainly import consumer goods, machinery, food, raw materials, mainly export electronics, clothing, medicine, general machinery products, etc. In 2017, the total import and export volume of Malaysia was 9.56 billion euros, including 6.03 billion euros of imports, 3.56 billion euros of exports and 2.47 billion euros of trade deficit [3]

People’s life

Free education, free medical care and retirement insurance system will be implemented. The average life span of men is 79.8 years, while that of women is 84.3 years (2016). In 2014, the Internet penetration rate reached 80.7% and the adult penetration rate reached 73.2%. In 2015, the legal minimum wage was EUR 8646 per year, which is in the middle of the EU.

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