Malta: 2024 Article IV Consultation-Press Release; and Staff Report

Author: International Monetary Fund. European Dept.

Volume/Issue: Volume 2025 Issue 017

Publication date: January 2025

ISBN: 9798400299704

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Finance , Labor , Economics- Macroeconomics , Public Finance , Financial sector stability , Corporate income tax , Fiscal stance , Anti-money laundering and combating the financing of terrorism (AML/CFT) , Labor markets , Energy prices

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Summary

Malta has experienced strong growth over the past decade, primarily driven by export-oriented service industries, such as tourism and online gaming. Although growth is expected to moderate, it will remain among Europe’s highest in the near term, along with tight labor markets. Inflation has fallen to around 2 percent, but some inflationary pressures remain in the service sector. Strong growth has been supported by an influx of foreign workers and tourists, leading to increased density and strain on infrastructure and public services. This has raised concerns about the sustainability of the labor-intensive growth model. The financial system has demonstrated resilience amid successive shocks.