In its latest review, Fitch forecasts Malta’s real GDP will contract by 6.9 per cent in 2020, ‘a moderate downward revision’ from its April review (5.9 per cent), saying declining net exports played a significant role in the change.
The credit ratings agency said Malta’s tourism sector suffered a large contraction in the
While there are still material downside risks to growth forecasts, Fitch now believes risks to be more balanced.
Malta’s medium-term potential growth remains strong and well above the eurozone average, at 3 to 3.5 per cent, Fitch said. Historical GDP was recently revised upwards, with 2019 growth raised to 4.7 per cent from an earlier estimate of 4.4 per cent.
Fitch affirms Malta’s rating at A+, outlook ‘stable’ amid Covid-19
Published On - July 15, 2020
