Malta, expected to lead in economic growth within the EU block in 2024
LA VALLETTA (MALTA) (ITALPRESS/MNA) – Maltàs economic growth this year is expected to hit 3.5% in real terms, leading all other EU member states and comfortably above the EU-wide average of just over 1%. According to Moody’s’ Credit Agency, Malta is forecast to be the only country with growth of over 3% among the 27 member states. The increase in domestic demand and the support of the tourism sector are expected to be the driving force for this economic growth. The Agency has confirmed Maltàs rating as A2 stable. Many other member states are expected to recover at a slower pace amid high interest rates, a decrease in consumer demand and the increase in energy prices. Meanwhile, the report notes that Malta with 1% together with Greece by 0.5%, will manage to reduce the deficit without stopping the energy subsidy.
– Photo credit: Malta tourist office –