German credit rating agency confirms Malta’s rating at A+

Budget2021_Money
Miguela Xuereb

Tista' taqra bil- Malti.

The German credit rating agency, Creditreform Rating is forecasting that Malta’s economy will remain stable as it has confirmed Malta’s A+ rating.

In a statement issued by the government, it was explained that the German credit rating agency said that Malta has a track record of a “vivid economic growth well above that of the euro area over recent years”. It was also said how economic resilience reflects the diversified economic sectors. The report also notes “the sophistication of Malta’s economic model”.

The German financial expers noted how Malta’s econimic improvement during the coronavirus pandemic was better than the rest of the countries within the European Union, during the first quarter of the year. “Thanks to wage subsidies to safeguard employment, the fallout from the corona crisis on the labour market has been limited,” said Creditreform Rating.

The report mentions how the government seems to be committed to deliver on continued effort required to satisfyingly deal with rule of law and anti money laundering and that the implemented reforms have received a positive feedback with experts convinced that the Maltese government will meet the Moneyval reccomendations

The credit rating agency also said that the current economic situation “should lay the foundation for a timely economic recovery.”