Creditreform Rating AG has given Malta an A+ rating with a stable outlook, the first time the German agency has rated Malta’s economy, the government announced in a statement.
Creditreform said that Malta had great economic potential, had improved its public finances and had a solid institutional base.
It said that Malta’s potential growth was among the highest of all euro area members, and the dynamic growth, aided by a resilient and flexible labour market supported income convergence towards the EU28 average.
Creditreform added that Malta’s high level of credit worthiness was due to its strong macroeconomic performance and strong fiscal sustainability. It predicted that Malta will lower its debt to below 60 per cent of GDP.
Malta exhibits a generally strong institutional framework, and as regards the quality of regulation and the perceived level of corruption, the country is in line with its euro area peers, the agency concluded.