The Ministry for Finance welcomes Fitch's outlook upgrade
for Malta from 'Stable' to 'Positive' and its
reaffirmation of the sovereign credit rating at A+. Fitch
attributes the upgrade to Malta's robust economic growth,
positively noting that in 2018 Malta was the fastest growing
economy in the European Union (EU). The fiscal surplus recorded in
the last three years coupled with a falling debt-to-GDP ratio were
also key drivers for this upgrade.
"The positive result by Fitch complements the European
Commission's Summer Forecast. Both reports conclude that
Malta's high economic growth is expected to be sustained in the
medium-term while public finances are expected to continue on a
sound footing", comments Minister for Finance Edward Scicluna.
Going forward, Fitch expects the Government to record an increasing
surplus in the next two years despite the forecasted decline in
revenue from the IIP. It also expects the recent track record of a
falling debt-to-GDP ratio to
