Ratings agency Fitch has confirmed Malta’s ‘A’ rating while upgrading its forecast from ‘stable’ to ‘positive’.
The upgrade means each of the big three rating agencies – Fitch, Moody’s and Standard & Poor’s – have upgraded their outlook for Malta during this legislature, the government said, adding, “yet again, independent foreign experts have confirmed our economy’s strength,”
In their assessment, Fitch analysts predicted that government debt would fall to 58 per cent of GDP by 2018 and were positive about changes to the pension system.
Analysts said ongoing energy projects will help grow the economy while making it more efficient, with structural reforms to improve competitiveness also having had a positive effect.
Fitch believes local household income will rise while inflation will remain muted, with the effect of improving people’s purchasing power.
