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10 Business Today maltatoday, WEDNESDAY, 1 OCTOBER 2014 €433 million spent on old age pensions The Minister for the Economy, In- vestment and Small Business Chris Cardona said that Malta agrees with the adoption of the draft declaration on the digital economy, arguing that a shared commitment to the digital economy needs to be made and that we must recognize that we are living in a digital era which is continuously evolving. "We must ensure that we recognize the importance of the digital economy as a tool for social and economic development and a creator of growth and jobs on both sides of the Mediterranean," Cardona said. Cardona's statement came as he attended the Union for the Mediterranean Ministerial Meeting on the digital economy where he also declared that Malta welcomes the draft declaration presented to the ministers responsible for ICT and the digital economy. The minister said that "Malta agrees with the actions proposed in the declaration in the areas of digital economy and internet governance as well as on the mechanisms to implement these actions." On the subject of the development of ICT solutions, Cardona said that this is essential to address the economic and societal challenges Malta is facing. "Such solutions should ideally not be developed unilaterally, but need to be accompanied by an exchange of good practices, at bilateral and regional levels, as well as developing interoperability solutions. Ongoing initiatives in the Mediterranean should be encouraged and supported in order to reap the benefits of the current boost in the Euro-Mediterranean region". Regarding internet governance, Cardona said that, "Malta believes that governments, policymakers and regulators have a key stake and role in achieving an open, fully inclusive and reliable internet". The minister added that all relevant factors need to be considered in a democratic and transparent process towards a strengthened multi-stakeholder model for internet governance. "This is the only way we can preserve the internet as a fast engine for innovation to continue to spur economic and social development," Cardona reiterated. France, Spain, Turkey, Greece, Tunisia, Israel, Italy, Lebanon, Palestine and Portugal, also participated during the meeting. Nearly a quarter of the total Maltese population – 105,068 persons – were aged at least 60 in 2013, the National Statistics Office reported. Women accounted for 54.3% of this population segment. The United Nations on Wednesday commemorates the International Day of Older Persons. This year's theme is 'Leaving No One Behind: Promoting a Society for All'. According to country's statistics office, 73 grooms and 32 brides aged 60 and over tied the knot during 2013: 58.1% were previously divorced while 18.1% got married for the first time. A total of 3,235 persons passed away last year, 83.3% of which were aged 65 and over. At 43.3 per cent, diseases of the circulatory system were the main cause of these deaths, followed by neoplasms, accounting for 24.1 per cent. 23.5% of elderly 'not able to keep their home warm in winter' Last year, total government expenditure on retirement and old- age pensions amounted to €433 million, up by 4% when compared to 2012 levels. Figures derived from the 2013 Statistics on Income and Living Conditions Survey show that persons over 59 years of age had an at-risk- of-poverty rate of 15.1% and an at- risk-of-poverty or social exclusion rate of 21.7%. Survey results also revealed that 52.2% of the elderly aged 65 and over could not afford to pay for a one-week annual holiday away from home, while 21.3% could not afford to face unexpected financial expenses of at least €450. Furthermore, 23.5% that they were not able to keep their home adequately warm in winter. Past Labour Force Surveys reveal an increasing trend in the participation of persons aged 60 and over in employment, rising from 4.7% in 2003 to 8.8% in 2013. Life-long learning It is never too late to graduate and 54 persons aged 60 and over were reading for a degree at the University of Malta during the academic year 2013-2014. Around 51.9% of these students were attending a course leading to a Second Degree or Postgraduate Certificate, while 5.6 per cent were undertaking a course at doctorate level. Nearly two-thirds of the attendees were males. A rise in outbound tourists aged 65 and over was recorded over the past four years, increasing from 19,598 in 2010 to 33,016 in 2013. At 88.9 per cent, most of these outbound tourists travelled to EU countries, while 63.1% opted for non-package travel. The most two popular destinations were Italy and the United Kingdom, with shares of 29.4 and 28.8% of the total respectively. Central Bank open during Notte Bianca The Central Bank of Malta will once again be open to the public during this year's Notte Bianca event being held on Saturday, 4 October. Visitors will have access to the Bank's main premises at Castille Place between 6pm and 11pm. They will have the opportunity to visit the currency museum which has a selection of coins and banknotes on display. For the first time ever, the Bank will be exhibiting a rare silver ingot produced in Malta by the French occupying forces in 1799. Visitors to the Bank will also be able to benefit from special discounts being offered on a selection of numismatic coins that may be purchased from the Bank during the event. Further information is available from the Bank's website www. centralbankmalta.org or by contacting the Malta Coins Distribution Centre on 2550 6007 Malta welcomes draft declaration on the digital economy Chris Cardona highlighted the need for regional cooperation in his address to the Union for the Mediterranean

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