It is no longer news that world-renowned authoritative rating agencies such as Standard & Poor's, Moody's, and Fitch Ratings have assigned an A-grade assessment to Malta's sovereign debt for 20 years or more. Recently, the German rating agency Creditreform assigned an A+ credit rating to Malta, marking its first rating of Malta's stable outlook.
Creditreform believes that Malta possesses immense economic development potential, with continuously improving public finances and a solid institutional foundation. Officials believe that Malta has the greatest development potential among all Eurozone countries, and supported by a flexible and dynamic labor market, national income will continue to increase steadily.
Creditreform anticipates that Malta will have a favorable economic growth outlook in the coming years, with growth in investment and personal consumption reflecting the rapid development of the labor market and rising wages.
Furthermore, it has been confirmed that Malta's current fiscal consolidation was carried out in 2017, which includes large banks and related sectors with potential risks, while the country is also making efforts toward pension reform to ensure long-term fiscal sustainability.
Malta's Minister for Finance, Edward Scicluna, stated: "We are very pleased that the first assessment by the German rating agency Creditreform is so optimistic, which is consistent with the assessment results from the other three rating agencies regarding us."