Further Growth Predicted for ‘A’ Rated Maltese EconomyMEDIA ROOM
DBRS (international financial ratings agency) predicts that the Maltese economy will grow by 3.3% this year whilst national debt is set to fall to 68% of national wealth. This is after the American experts gave the Maltese economy an ‘A’ rating considering its recent progress and a promising outlook, amongst which government’s measures to sustainably reduce national debt in the coming years.
Furthermore, government incentives given to the work industry, particularly those linked to direct foreign investment were greatly praised, alongside the recent restructuring of public entities. The latter is deemed to have reduced financial risk for the country, especially in the case of Enemalta.
On the other hand, in order for Malta to improve its rating further, the agency emphasised the need of a sounder education system and increased training of workers. Moreover, DBRS pointed out that the majority of companies in Malta are SMEs without much access to investment funds.
The Maltese government has acknowledged that in being very encouraging, the report poses a welcome challenge to the government to continue carrying out the necessary reforms and strengthening the social and economic situation of the country for widespread benefit.