World Economy

Malta Upgraded to Positive

Malta Upgraded to PositiveMalta Upgraded to Positive

Ratings agency Fitch has confirmed Malta’s ‘A’ rating while upgrading its forecast from ‘stable’ to ‘positive’, Yahoo Finance reported. 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 in a statement. In their assessment, Fitch analysts predicted that government debt would fall to 58% 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.