Malta Economic Outlook
September 28, 2021
The economy rebounded in annual terms in Q2, as easing restrictions domestically and abroad spurred investment, household spending and exports. Activity has likely continued to recover in Q3, albeit at a more moderate pace. Low unemployment and sustained consumer confidence in July-August point to healthy consumer spending, while upbeat economic sentiment signals expanding private sector activity. Additionally, tourist numbers more than doubled over the previous year in July, although they were still over 50% down from 2019. Meanwhile, on 16 September the European Commission endorsed the country’s recovery plan—a necessary step to release EUR 316 million in grants. Moreover, on 17 September the IMF concluded its Article IV review and praised Malta’s swift Covid-19 response, although it warned against risks stemming from a prolonged placement on the Financial Action Task Force grey list.Malta Economic Growth
The economy should expand robustly this year and next, as domestic demand revives amid unleashed pent-up spending, incoming EU funds and supportive fiscal and monetary policies, while a brighter international backdrop will boost tourist arrivals. That said, the possible spread of Covid-19 variants globally remains a key risk to the outlook. FocusEconomics panelists see GDP expanding 5.6% in 2021 and 4.9% in 2022, which is down 0.2 percentage points from last month’s forecast.Malta Economy Data
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Malta Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.43 | 3.09 % | Dec 30 |
| Exchange Rate | 1.12 | 0.65 % | Dec 31 |
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