World Economy

Malta Gets ‘A’ Rating

Malta Gets ‘A’ RatingMalta Gets ‘A’ Rating

Fitch Ratings expects the Maltese economy to continue to outperform that of its Eurozone peers, with a projected average real GDP growth of 3.2% this year and next year, broadly in line with the ‘A’ median, it said Saturday, NewsNow reported. The agency this evening affirmed Malta’s long-term foreign and local currency Issuer Default Rating at ‘A’ with stable outlooks. The issue ratings on Malta’s senior unsecured foreign and local currency bonds have also been affirmed at ‘A’. The short-term foreign-currency IDR was affirmed at ‘F1’ and the country ceiling at ‘AAA’. It said exports’ contribution to growth would rise gradually as external demand recovered and investment slowed. Tertiary industries would remain the main engine of growth, in particular the pharmaceutical and gaming industries, healthcare services and tourism. However, growth was expected to go down from an estimated 4.7% last year due to the completion of large-scale energy investment projects and the expiration of the EU funding cycle.