Malta’s latest credit rating report issued by Fitch affirmed Malta’s rating at ‘A+’ with a positive outlook. This reflects that Malta’s institutions are stronger than the majority of similarly rated countries. Moreover, the expectation of sustained high economic growth is on the cards for Malta, which is why the country expects to see a stable per capita income to persist in the years to come.
Minister for Finance Edward Scicluna stated:
“I am pleased to note that Fitch has acknowledged our policies to sustain growth by diversifying the Maltese economy as well as our sound and prudent management of public finance. More importantly, Fitch accepts the government resolve to continue upholding its fiscal rules targeting a balanced budget in structural terms (net if IIP receipts) and ensuring that expenditure growth does not exceed the economy’s potential growth rate.”
Fitch commends Malta for bolstering the FIAU and MFSA budget, as well as for implementing new supervisory procedures. Moreover, it is apparent that financial soundness indicators are strong, envisaging Malta’s current account balance to remain in surplus.