Protecting Europe`s waters

Abstract

News that the construction industry has been facing a downturn in terms of its economic contribution since 2008 (going down from a 4.8 per cent gross-value-added contribution in 2008 to a four per cent contribution in 2011), despite a boom in the local real estate market, is food for thought. The most obvious consideration to make is that the glut in properties on the local market is evident, as otherwise, such diverging trends between the two sectors would not be possible. Secondly, although the slowdown in the construction industry is of concern to the Malta Developers Association and eco nomists, it might be a relief to those who believe Malta is stifled by perennial construction sites and that the industry has wielded economic clout for far too long to ingratiate itself with the political class. In light of these emerging statistics, and perhaps eventually by an effective party financing bill, there is much scope for decoupling players in the construction industry from the political class.