September tourist numbers higher than previous year – Central Bank

According to the Central Bank of Malta, the number of tourists arriving in Malta in September 2019 was higher than that of September 2018.

The economic update also indicates that conditions in the labour market continued to be favourable with unemployment rates remaining low.

Economic sentiment remained overall above its average.

There is also a higher confidence in the services and construction sectors. However, the retail sector and consumers have low levels of confidence in the economy.

Maltese residents’ deposits grew at a faster annual rate of 5.6% in 2019.

Credits during the same period rose by 6.2%. Inflation rate stood at 1.6%.

The cash-based Consolidated Fund recorded a deficit compared to the surplus of the earlier year.