The latest Fitch Ratings' report is another independent
confirmation of Malta's economic achievements – Minister
Edward Scicluna
Following Standard and Poor's credit rating upgrade in
October of last year, Fitch has now upgraded Malta's sovereign
credit rating from A to A+ with a stable outlook. The independent
credit rating institution defines one of the main contributors to
this upgrade as the 'fast declining gross general government
debt' which is expected to 'decrease to 50% of GDP in
2019...supported by strong nominal GDP growth and recurrent primary
surpluses.' Fitch added that it also expects
Government-guaranteed liabilities to decline in the coming
years.
Another main driver contributing to this upgrade is the positive
turnaround in the fiscal balance. Fitch expects Malta to continue
achieving a fiscal surplus in the coming years, which, it added,
reflects the Government's efforts to improve tax collection and
tax revenue; reduce unnecessary expenditure
