FITCH JOINS OTHER CREDIT AGENCIES IN AFFIRMING MALTA'S POSITIVE RATINGS

The independent rating agency forecasts Malta's economic growth to outperform its peers in 2018.

Fitch affirmed Malta's rating at A+ resulting from its upgrade last year, while commending Malta's high governance indicators.

The credit rating agency said strong rule of law and governmental effectiveness in Malta were strong contributors to the country's A+ sovereign rating.

The independent rating agency forecasts Malta's economic growth to outperform its peers in 2018. Real GDP grew by 7.2 per cent in the first three quarters, boosted by buoyant service exports and sharp contraction in imports.

Malta's service exports and a moderation in import-intensive investments will support a robust external fiscal position, while the shift to a more service-oriented and a less investment-intensive economy will lead to a sustained surplus on the current account at an average of 9.7 per cent of GDP in 2018-2019.

The credit rating report acknowledged Malta's low unemployment rate, which is among the lowest in the eurozone.

13 Apr 2018

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