The Standard and Poor rating agency has assessed Malta’s short and long term credit rating as positive.
S&P states that the rating is thanks to regular growth and surpluses in current accounts which have been driven largely Maltese service exports, along with improved fiscal management budget and debt.
They also outline that the growth expectation for the country is expected to surpass other nations with similar levels of development.
The agency also states that Malta’s real GDP growth average, had increased to 7.6% between the 2014 – 2018 period.
Added to this, changes in the economy had created opportunities for new employment thus bringing down the unemployment rate by 3.8% last year.
Responding to S&P’s outlook, Minister for Finance Edward Scicluna said, ‘The credit rating report acknowledges the Maltese authorities’ efforts to strengthen supervision to withstanding external risks to growth pointed out by the credit rating agency, we are actively monitoring such risks by promoting further diversification and registering broad-based economic growth.’