The European Union's autumn forecast report on the pre-accession countries, published this week, has suggested that the Maltese economy will progressively recover from the current economic downturn, with domestic demand set to play an important role in its recovery.
The EU also predicted that net exports are set to contribute positively to growth in 2004, and that unemployment is expected to decrease in 2003 and 2004, having reached a peak this year.
Analysing the results of the EU report on Thursday, the Times of Malta revealed that: 'investment is expected to increase visibly in 2003 and 2004, primarily led by the private sector, given the need to cope with higher competition and increasing external demand'.
Meanwhile, it also emerged yesterday that public expectations with regard to the content of the 2003 budget are far higher than they were a year ago.
A survey, conducted in mid-October by the Times of Malta in conjunction with BPC Opinion Research revealed that some 18% of those quesioned believed that the forthcoming budget will have a good, or very good effect on their personal finances, compared with around 7% who felt that way in 2001.
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