The European Commission's 2018
Winter Forecast has revised Malta's growth rates predicting
increases for the years 2018 and 2019.
The European Commission acknowledges the strong growth recorded
by the Maltese economy last year, adding that growth continued to
surprise positively, with growing services exports continuing to be
the main drivers of growth. The report further notes that growing
exports are also serving to boost the current account surplus.
Minister for Finance, Edward Scicluna stated that, "this
upward revision on behalf of the EU is a confirmation that
Malta's high rates of economic growth are here to
stay."
In 2018 and 2019, the European Commission expects private
consumption to become the main driver of growth on the back of
strong employment growth, improved consumer confidence and growing
disposable income. Investment is forecast to recover, led by the
residential construction sector. On external trade, the report
expects exports to continue
