Independence in Malta was quite a leap of faith. The country had to get it right, and the Second Development Plan of 1964-1969 was the vehicle for the job.
In 1963-4, an economic mission brokered by the United Nations, and headed by Wolfgang Stolper, came to Malta to find out what was the country’s current economic predicament and what realistic development trajectories could be proposed.
The prescribed medicine was bitter but necessary. A fledgling private sector had to be nurtured, suitable foreign investment had to be attracted, and widespread public sector employment had to be reined in.
Malta’s Economic Vision is well encapsulated in a new publication, in facsimile format, by Quinque Publishers.
Titled Stolper Report - 60 Years After its Completion, the publication was launched on Wednesday 6 November 2024 at the Central Bank of Malta (CBM), in an event jointly organised by the CBM with the Faculty of Economics, Management and Accountancy at the University of Malta (and which did not exist in Stolper’s time).
Commissioned by the Maltese government and conducted by a United Nations mission, The Stolper Report examines the island's then daunting economic challenges and proposes policy recommendations.
Presented in facsimile format, this edition allows readers to experience the historical context and appreciate the significant progress Malta has made since then, as well as the structural problems which linger. The report serves as both a time capsule and a testament to the transformative changes in Malta’s economy and society over the decades.
The Foreword is written by Prof. Godfrey Baldacchino, who also moderated a Panel Discussion during the launch.
The Discussion, which focused on the number of fundamental changes that reshaped Malta’s economy and society over the last sixty years, included the participation of Mr Tonio Fenech, Former Minister of Finance, Prof. Rose Marie Azzopardi from the Department of Economics at FEMA, Mr Alexander Demarco, Acting Governor at the Central Bank of Malta, and Dr Marie Louise Mangion from the Department of Policy, Politics & Governance at FEMA.
The role of the University in supporting the development of talent and skill sets relevant to the local labour market, and beyond what Stolper criticised as producing just ‘lawyers and doctors’, was also discussed.
The Stolper Report is available for sale from online distributors, stationers and the .
