Maltàs GDP expected to grow by 4.4% in 2024

LA VALLETTA (ITALPRESS/MNA) – Maltàs gross domestic product (GDP) is expected to grow by 4.4% in 2024. This is the forecast by Maltàs Central Bank in its latest report on the Maltese economy, adding that this is based on the private consumption and net exports registered lately.
The domestic demand is expected to be the main driver of growth in 2024. Private consumption growth continues at a brisk pace and private investment, is expected to recover slowly. Net exports are also projected to contribute positively, driven mainly by services exports. However, economic growth is expected to slow down to 3.6% in 2025, and to 3.3% by 2026. Growth in 2025 and 2026 is expected to be led by domestic demand.
Wages are expected to pick-up in 2024, in view of the high inflation in the recent past, and a tight labour market.
Annual inflation based on the Harmonised Index of Consumer Prices is projected to ease from 5.6% in 2023 to 2.9% in 2024, before reaching 1.9% by 2026.
The general government debt-to-GDP ratio is expected to increase, and to reach 54.3% by 2026.
The ongoing geopolitical tensions and disruptions to shipping around the Suez Canal could could affect negatively the economic activity and trade causing longer waiting times, and possible higher costs.
– photo Agenzia Fotogramma –

Source: medNews