The Minister for Finance welcomes another positive credit rating
report on Malta published by DBRS Ratings Limited, which
confirms the country's stable outlook and its 'A'
Amongst other factors, the 'A' rating reflects
Malta's solid external position, the ongoing improvement in the
fiscal position and favourable public debt structure, as well as
the country's strong economic performance—being among the
fastest growing in the Euro area—and the robust financial
position of households.
DBRS acknowledges the Government's efforts in reforming
public finances and stregthening the fiscal framework, stating that
"important improvements in fiscal management have been
undertaken, after weak fiscal performances in the past."
DBRS also notes the consistent reductions in both the deficit
and debt ratios that have taken place in the last four years,
stating that these were supported by solid tax revenues and
expenditure consolidation measures. It further remarks that the
debt ratio is expected to continue on a downward trend further
below the 60 per cent, after peaking in 2011 at 70.4 per cent.
DBRS acknowledges the Government's labour market policies
directed towards increasing the labour market participation rate
and securing the long-term sustainability of pensions.
DBRS comments favourably on recent reforms implemented by the
Government to address structural weaknesses, in particular the
reforms in the energy sector. It expects these reforms to continue
to support potential output.
Minister for Finance Edward Scicluna comments that: "Once
again this report acknowledges the effectiveness of the
Government's policies in reforming public finances and
increasing the standard of living in recent years, while it expects
such policies to continue boosting the country's performance in
the coming years."
Source: PRESS RELEASE BY THE MINISTRY FOR FINANCE
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Mauritius is a Republic governed by a parliamentary democracy with elections being held every five years, and is composed of an independent judiciary.
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