S&P confirms Malta’s category A rating with economic prospects looking good
The international agency Standard & Poors confirmed Malta’s class A rating. The country’s rating was maintained in category A-, with the outlook for the Maltese economy also being kept at a stable level, as the situation has been in recent months since the pandemic began.
In a report on Malta, the economists of Standard & Poors said that in a small, open economy dominated by services, such as tourism; Malta remains sensitive to economic developments taking place around the world.
After last year’s blow, they predict that the Maltese economy will gradually recover so much that this year it is expected to grow at a rate of 5% and almost 6% next year. They say this is expected to happen as domestic activity increases and movement restrictions continue to decline.
The experts of Standard & Poors added that the economic policy pursued by the Maltese Government since the beginning of the pandemic has prevented the closure of many businesses and the loss of jobs while supporting the economic wheel to continue to turn. On the other hand, they also said that the weakness of certain institutions continues to tarnish Malta’s reputation.