The International Monetary Fund has released its latest Country Report about Malta arguing that Malta’s economy is set to keep outperforming its European peers but structural risks remain. Malta’s economic growth is being mainly driven by export-lead services mainly online gaming and also tourism. It also stated that tourism and an increasing number of foreign workers living in the country are putting strain on the infrastructure.
The IMF pointed out at Malta’s low inflation rate at 2% but stated that wage-inflation may be even higher than reported.
However, the IMF also remarked in a very diplomatic manner that the Maltese government has to increase its reforms in the judiciary, hinting that the government needs to increase the independence of the judiciary even when it comes to the selection of the Chief Justice. The IMF also “welcomed” the government’s efforts at its AML efforts also hinting that thee measures need to be stepped up.
Concluding, the IMF also lauded the creation of the government’s Venture Capital Fund and said that the government should continue its efforts to invest in more sustainable and long-term growth.
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