ARTICLE · 03 SEPTEMBER 2015

Positive Update Published By Central Bank Of Malta As Economic Activity Expands

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As unemployment rates have decreased to a record low, positive economic activity is being experienced on the labour market due to increased employment.

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The Central Bank of Malta published its August economic update, showing that along the first quarter of 2015, Malta experienced a strong economic growth with a GDP increase of 4.0% over a period of one year. Growth was driven by net exports as domestic demand declined.

As unemployment rates have decreased to a record low, positive economic activity is being experienced on the labour market due to increased employment. The manufacturing and tourism industries are also expecting further expansion.

The Harmonised Index of Consumer Prices shows an annual inflation rate of around 1.2% in July. According to a recent report published by credit ratings agency Fitch, inflation rate is expected to grow to around 2% in 2016/2017.

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