In their latest forecast published today, the economists of the European Commission are claiming that this year the Maltese economy will have the highest growth rate among all the countries of the European Union.
This is when it is expected to grow by 6%, which means one and a half times the growth rate at which the European economy will grow.
According to European experts, the growth will be due to strong domestic demand as well as through the recovery and resilience plan. These will lead to our country returning to the economic situation it had before the pandemic by the middle of this year.
The report notes that, “Relative to the EU average, inflation in Malta increased only moderately in 2021”. This is expected to continue this year mainly due to the decision taken by the government to keep the price of energy stable. This is the lowest inflation rate forecast for a country in the Union. On average, inflation across the European Union is expected to rise to 3.9%, or twice as much as in our country.
The government remains committed to the best economic recovery rate in our country in Europe as well as to continuing to be a shield for our families.
