Malta has ranked first in macro-economic stability in the annual report released by the World Economic Forum.
In the Global Competitiveness Index 2017-2018, Malta now ranks 36th out of 140 countries included in this publication, surpassing a number of key economies including India, the Baltic states, Cyprus and other countries.
Malta excelled particularly well in the quality of its enabling environment, with businesses operating under stable macro-economic stability (1st), having a high level of ICT adoption (24th), and having a strong institutional environment (33rd). Malta’s financial system has also ranked in 29th place world-wide.
In his reaction, Minister for the Economy, Dr Chris Cardona, welcomed this outstanding result, stating that the World Economic Forum report is among the most respected global publications in business and stated that recent initiatives from Malta Enterprise promote entrepreneurship and technological sophistication. The Minister added that the upcoming budget will continue to give the Government the means and tools to continue delivering its vision.
This recent positive result indicates that Malta is more likely to be able to sustain its competitiveness in the longer term and all this bodes very well in a global economic environment, placing Malta in a very attractive economic position.