The strong momentum exhibited by the Maltese economy during the
last three years has continued during the first half of this year.
Indeed, figures published by the NSO show that the Maltese economy
grew by 4.1 per cent in real terms during the first half of 2016,
comparing favourably with the average growth for the past three
years. Nominally, GDP expanded by 6.1 per cent.
When compared quarter on quarter, Malta's GDP grew by 5.2
per cent. Seasonally adjusted data published today by Eurostat
shows that the Euro Area grew by 0.3 per cent during the second
quarter when compared to the first quarter.
Economic growth remained broad-based, with growth registered in
almost all sectors of the economy. Double digit growth rates were
recorded in the professional, scientific and technical sector (11.2
per cent), and the information and communication sectors (10.7 per
cent). Other notable private sector increases were also recorded in
real estate activities, agriculture, fishing, and financial and
Of note is the fact that growth was also recorded in the
manufacturing sector, which grew by 2.8 per cent during the same
Such broad-based growth was fuelled by significant increases in
private consumption and investment. Indeed, private consumption
expenditure increased by €81.5 million, while expenditure on
projects rose by €58.1 million over the six-month period.
These in turn reflected increases in both the compensation of
employees and the profitability of firms and businesses. Indeed,
the wages of employees increased by €123.8 million, or 6.5 per
cent, while businesses saw profits increasing by €94.4 million
or 5.2 per cent.
Minister for Finance Edward Scicluna stated: "This
half-yearly growth is confirming the rating agencies'
expectation that Maltese economic growth will persist for the
(Source: PRESS RELEASE ISSUED BY THE MINISTRY FOR
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
When Walkers was launched as an offshore law firm in 1964 in the Cayman Islands it is fair to assume that the founders would never have dreamt their creation would, fifty years later, be working in a cross-border restructuring market driven by China.
You might think that a formal Grant of Probate issued in the UK would be sufficient to release assets held in Jersey by your client – unfortunately, the process is not quite as simple as that.
Some comments from our readers… “The articles are extremely timely and highly applicable” “I often find critical information not available elsewhere” “As in-house counsel, Mondaq’s service is of great value”
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).