An economic snapshot

Times of Malta in conjunction with Seed is serializing the economic report Agile. Perspectives on Malta’s economy post COVID-19. The report was authored by JP Fabri, Glenn Fenech, partner and senior consultant at Seed, and University academics Professor Vincent Cassar, Dr Stephanie Fabri and Dr Jonathan Spiteri. The full report can be read here. 

Over the past few years, Malta’s economy has grown at a relentless yet sustained pace, giving rise to long-term sustainability concerns. Rebounding after a period of sluggish growth, which was further dampened due to the 2008 global crisis and a restructuring process, the Maltese economy was characterised by fast GDP and employment growth, propelled by a strong services sector. This positively impacted public finances as the deficit and rising debt were reversed, with fiscal surplus and declining debt ratios being registered. However, recent data started to indicate that the economy was reaching its peak, with heightened concerns on the long-term sustainability of the current growth trajectory.

[attach id=872048 size="large" align="left" type="image"]Source: National Statistics Office, Eurostat[/attach]

Strong though moderating economic...