Malta’s economic growth is projected to continue in the short and long-term future, as top international credit rating agencies Moody’s and DBRS have each upgraded their respective credit ratings to “A3 positive” and “A high”.
Moody’s upgrade is the first given to Malta since October 2013, whilst DBRS’s rating is the highest rating ever given to the country
DBRS projects that Malta’s debt will drop to 41% of GFP by 2022, and the notes that the “Maltese economy continues to power ahead” and “remains one of the top performers in the euro area”.
Moody’s report praises Malta’s “improving fiscal strength” and predicts “robust medium-term growth” while praising the Maltese government for its measures targeting the labour market and diversification of local energy sources and increased energy efficiency.
These highly positive announcements come on the back of Fitch’s confirmation of Malta’s A rating in February, and effectively are an affirmation of the consensus among the top agencies that Malta’s economic prospects are nothing if not positive.