Cred­itre­form Rating AG gives A+ rating to Malta, out­look sta­ble

Malta Independent - - NEWS -

Cred­itre­form Rating AG has given Malta an A+ rating with a sta­ble out­look, the gov­ern­ment said in a state­ment. This is the first time that the Ger­man agency gave a rating to Malta’s econ­omy.

Among the fac­tors men­tioned in its re­port, the agency said that Malta has great eco­nomic po­ten­tial, has im­proved its public fi­nances and has a solid in­sti­tu­tional base.

Malta’s po­ten­tial growth is among the high­est of all euro area mem­bers, and the dy­namic growth on the back of a buoy­ant labour mar­ket is sup­port­ive to in­come con­ver­gence to­wards the EU-28 av­er­age.

The Ger­man agency said that Malta has a high level of credit wor­thi­ness be­cause of its strong macroe­co­nomic per­for­mance and strong fis­cal sus­tain­abil­ity.

It pre­dicted that Malta will lower its debt to be­low 60% 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 said.

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