PM asked about declarations of assets

Prime Minister Joseph Muscat said this morning he always believed the declarations of assets submitted by ministers, including this time. Asked if he believed the declarations submitted by his ministers last Wednesday, Dr Muscat said: “I believe them as I believed those submitted in previous years.” Asked whether he was worried that Dr Mallia had €500,000 in cash, Dr Muscat said what he was worried about were undeclared accounts in Switzerland. The Prime Minister was replying to questions following a meeting with Banif Bank staff at the bank’s headquarters in Gzira. Chairman Michael Frendo said the Prime Minister’s visit was encouraging as the bank was working to be integrated within the Maltese economy. Banif was set up in Malta five years. It had 10 branches and planned on further expansion. The bank caters to 32,000 clients and employed 160 people. Dr Muscat described the bank as an essential part of the Maltese financial sector. He also welcomed Standard and Poor’s report on Malta which affirmed Malta’s credit rating and gave the country a positive outlook.