The Finance Ministry said this afternoon that claims by Labour spokesmen that the government was giving a wrong picture of the state of the economy only served to show their impressive detachment from reality and a poor grasp of how the world economy works.
The ministry was reacting to a press conference given this morning by the PL spokesman on the economy and on finance - Karmenu Vella and Charles Mangion.
The ministry noted that the PL spokesmen had compared the growth forecast issued this week by the International Monetary Fund with the government's own growth forecast for 2012, made in November 2011.
"The IMF has come up with lower forecasts on the basis of developments which have taken place over the past weeks which have unfortunately seen a rapid deterioration of the European economy as highlighted in reports presented by the IMF and Standard and Poor's. This is precisely what Government has been warning about – a fact which Labour deems convenient to ignore," the ministry said.
Moreover, the ministry said, in comparing end-of-year projections for financial results with figures for the first nine months, the Opposition should...
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