The strengths of the Economy of Malta are its limestone, a favourable geographic location, and a productive labour force. Malta produces only about 20% of its food needs, has limited freshwater supplies, and has no domestic energy sources. The economy is dependent on foreign trade, manufacturing (especially electronics), tourism and financial services. In 2003, over 1.2 million tourists visited the island.

Per capita GDP of $23,200 places Malta just above the middle of the list of European Union (EU) countries in terms of affluence. The island joined the EU in 2004. A sizeable budget deficit was a key concern, but recent initiatives by government have changed the situation allowing for the country to be admitted into the eurozone as of 1 January 2008.

Prior to 1800 the majority of Maltese were engaged in agriculture or fishing, although there was significant trade. Until then, Malta had very few industries except the cotton, tobacco, and shipyards industry. The dockyard was later used by the British for military purposes. At times of war, Malta's economy prospered due to its strategic location.

Malta ⁱ/ˈmɒltə/, officially known as the Republic of Malta (Maltese: Repubblika ta' Malta), is a Southern European country consisting of an archipelago situated in the centre of the Mediterranean, 80 km (50 mi) south of Sicily, 284 km (176 mi) east of Tunisia and 333 km (207 mi) north of Libya, with Gibraltar 1,755 km (1,091 mi) to the west and Alexandria 1,508 km (937 mi) to the east. Malta covers just over 316 km² (122 sq mi) in land area, making it one of the world's smallest states. It is also one of the most densely populated countries worldwide. The de facto capital city of Malta is Valletta; the largest town, Birkirkara. The main island comprises many towns, which together form one Larger Urban Zone (LUZ) with a population of 368,250 according to Eurostat. The country has two official languages, Maltese (constitutionally the national language) and English.

Throughout history, Malta's location has given it great strategic importance, and a succession of powers including the Phoenicians, Greeks, Romans, Arabs, Normans, Aragonese, Habsburg Spain, Knights of St John, French and the British ruled the islands. Malta gained independence from the United Kingdom in 1964 and became a republic in 1974, whilst retaining membership in the Commonwealth of Nations. Malta was admitted to the United Nations in 1964 and to the European Union in 2004. Malta is also party to the Schengen Agreement and in 2008 it became part of the eurozone.

Tonio Fenech (born May 5, 1969) is a Maltese politician who has served in the government of Malta as Minister of Finance, Economy and Investment (Maltese: Ministru għall-Finanzi, l-Ekonomija u l-Investiment) since 2008. He was Mayor of Birkirkara from 1998 to 2003.

He received his primary education at the old St. Catherine's High School in Sliema. He subsequently received his secondary education (1979–1986) and post-secondary education (1985–1987) at St. Aloysius' College, Birkirkara. Tonio graduated in Management and Accountancy (B.Com) at the University of Malta, he then completed his B.A.(Hons.) Accountancy, in 1992. He is now a warranted Accountant and Auditor.

His first work experience was gained during the summer work phase in his Sixth Form years, on the factory floor at Multi Packaging Ltd. He joined Price Waterhouse in July 1993. Tonio's initial years at Price Waterhouse, later PricewaterhouseCoopers, were in the audit practice, where he became a manager. He subsequently moved to the management consultancy practice of the firm where he became a Senior Consultant. Tonio had a number of international work experiences with the firm in Italy and Libya. Some of his most interesting audit experiences included the Instituto per le Opere Religiose (IOR) Vatican Bank.

Edward Scicluna (b. October 12, 1946 in Naxxar, Malta) is an economist and a Member of the European Parliament elected on behalf of the Maltese Labour Party and sitting with the Progressive Alliance of Socialists and Democrats.

Scicluna holds a Diploma in social studies from the University of Oxford (1972) and degrees in economics from the University of Malta (BA, 1975) and the University of Toronto (MA, 1976 and PhD, 1982). Between 1981 and 1990 he was professor and head of the Department of Economics at the University of Malta where he still holds a lectureship post.

He has held a number of posts in the public and private sector. He served as Chairman of the Malta Council of Economic and Social Development (MCESD) (1999–2003) and of the Malta Financial Services Authority (MFSA) (1997–99), an Electoral Commissioner (1987–93), a Director of the Central Bank of Malta (1996–2003) and a member of Malta's National Euro Change-over Committee (NECC) (2005–2008). He was often selected by the Malta Broadcasting Authority to chair broadcast political debates. In the private sector he was Chairman of the HSBC Malta Bond Fund (since 2002) and of CWG plc and director of MIB Ltd.

Charles Mangion (born 14 November 1952) is a Maltese politician. A Member of Parliament in the House of Representatives of Malta since 1987, he served in the government as Minister of Justice and Local Government from 1996 to 1998. He was briefly Leader of the Opposition in 2008.

Mangion was born in Pietà and lives in Luqa. He is married to Carmen, and they have three children: Malcolm, Marie-Claire and Gabriella.

He had his primary education in Hal Luqa and continued his secondary level education at the Lyceum in Hamrun. He graduated from the University of Malta with a B.A. (Hons.) degree in English Literature (1974), and in 1982 he achieved the Doctorate in Laws. He practised his profession as notary with his company, Mangion & Mangion Ltd.

He joined the Labour Party (PL) and in 1987 he was first elected to Parliament; he has continued to be elected in the following general elections. As a Member of Parliament, he represents the 6th District – Qormi, Siggiewi, u Luqa.

From 1992 and 1994, he served as Shadow Minister of Home Affairs and between 1994 and 1996, he served as Shadow Minister of Industry and Local Government. Moreover, from 1992 and 1996 he served as a Deputy Speaker of the House of Representatives.