EC forecasts robust economic growth for Malta in 2024 and 2025
LA VALLETTA (MALTA) (ITALPRESS/MNA) – Malta is expected to register an economic growth of 4% in 2024 and 4.2% in 2025 according to a forecast by the European Commission. This will put Malta as the EU country with the largest growth and the lowest unemployment during this period. In its autumn forecast for Malta, the European Commission remarked that private consumption slowed down slightly due to higher inflation and a decrease in investment. Inflation is still projected to reach 5.7% in 2023 and then moderate to 3.3% in 2024 and 3.1% in 2025. EC economists said that energy prices in Malta are set to remain unchanged until 2025 due to government measures.
The general government deficit is expected to decrease gradually from 5.7% of the Gross Domestic Product in 2022 to stand at 4.1% in 2025. Meanwhile, the public debt is forecast to reach 57% of GDP in 2025.
– Photo credit: Tourist Office of Malta –