• Facebook
  • LinkedIn
  • Twitter

maltawinds.comLogo

The Economy's Voice

Menu

Skip to content
  • Home
  • About
  • Local News
  • International News
  • Opinion
  • Demia on Sundays
  • Demeter
  • Business
  • Satire on Sunday
  • UK hospitals are using blockchain to track the temperature of coronavirus vaccines
  • ECB's latest stimulus expected to have little impact on euro zone economy - Reuters poll

S&P Global Ratings claims that the unprecedented measures taken by the Government have safeguarded the Maltese economy

Posted by Vento on 12th September 2020 in Local News

The international credit agency, S&P Global Ratings, confirmed the A-rating for our country, with a stable outlook.

According to foreign experts, although the pandemic will have an economic impact, it will not lead to “significant and structural damage” in Malta. In fact, the credit agency says that there are several factors that will lead to “a robust recovery in 2021-2022 “.

Key among them is “the government’s comprehensive policy response” which will preserve the productive capacity of our country’s economy. In the words of the S&P Global Ratings report, the Government’s measures “safeguard incomes and prevent business closures”. Experts say that “without this comprehensive fiscal response, we think the Maltese GDP would have fallen considerably lower, unemployment would have surged faster, and solvent businesses would be forced to liquidate, eroding the economy’s productive base, perhaps permanently.”

Thanks to the economic regeneration plan, international experts are predicting that in 2021 and 2022 economic growth will be 5.5%. Experts note that the Maltese Government can afford to finance the unprecedented measures it has introduced because it has greatly reduced debt and accumulated heavy savings.

So much so that the S&P Global Ratings report says that, given these Government assets, the debt burden will be 43% of national wealth in 2023, which is well below the interest rates. more than 60% in past years. Experts also stress that the Maltese Government has managed to acquire strong resources from the European Union with an allocation of € 2.25 billion.

This report praised the improvements in the operation and budgets of the FIAU and the MFSA. It also says that the reform in the leadership of the Police has hit the attention of foreign experts who said that the way the Commissioner is appointed is much more transparent.

The Government welcomes this positive certificate for the way it has responded to the effects of the pandemic. Work will continue in the coming weeks to give another strong boost to families and businesses with a more sustainable economy through the forthcoming Budget.

Posted in Local News | Tagged A-rating, economy, GDP, Government, Malta, measures, pandemic, S&P Global Ratings

About the Author

Avatar

Vento

Related Posts

ECB’s latest stimulus expected to have little impact on euro zone economy – Reuters poll→

European airlines face a grim summer without a faster vaccine rollout→

GDPR fines have increased by almost half as European authorities flex their regulatory muscles→

WHO says expects global COVID deaths to top 100,000 a week→

advertisement
  • Posts
  • Comments
  • Tag Cloud
  • UK hospitals are using blockchain to track the temperature of coronavirus vaccines

    19th January 2021 / Vento
  • ECB’s latest stimulus expected to have little impact on euro zone economy – Reuters poll

    19th January 2021 / Vento
  • European airlines face a grim summer without a faster vaccine rollout

    19th January 2021 / Vento
  • GDPR fines have increased by almost half as European authorities flex their regulatory muscles

    19th January 2021 / Vento
  • Malta reiterates its continued support for EU-wide coordination on COVID19 matters

    19th January 2021 / Vento
  • Avatar
    Joseph Gatt on The government is committed to supporting Malta’s…Both the Business Start (B…
  • Avatar
    Hindi Lyrics on Nurse death toll from COVID-19 hits the…I have been looking for…
  • Avatar
    Mehfooz Roy on US Presidential Elections: Biden leads polls in…You really think sleepy Joe…
  • Avatar
    Peter Buckley on "It is wrong. It is oppressive of…What she says is patently…
  • Avatar
    Carlos on Hungary and Poland to form rule-of-law institute…The article deals with something…
aviation banking Bitcoin blockchain Boris Johnson BOV brexit business China climate change COVID-19 cryptocurrency Donald Trump ECB economy Education environment EU euro area Europe European Commission European Parliament European Union Eurostat eurozone finance France Germany Government Infrastructure Malta investment Italy lockdown Malta maritime pandemic politics restrictions technology travel UK United States US vaccine WHO

News Calendar

September 2020
M T W T F S S
 123456
78910111213
14151617181920
21222324252627
282930  
« Aug   Oct »
Footer logo
  • Facebook
  • LinkedIn
  • Twitter
 




 
 
 

Copyright © 2016 MaltaWinds.com

Menu

  • About
  • Home