According to Moody’s, the Maltese economy well exceeded expectations in 2015, a government statement read.

This year, the statement read, the Maltese economy will grow by 4%, “which is higher than the European average”.

While the Opposition says that there is a wage squeeze and that families, Moody’s analysts say: “since 2014 private consumption has benefitted from a range of factors such as income tax cuts, lower oil prices and reduced electricity tariffs, low unemployment and associated wage increases”. 

Moody’s also noted a rise in investment in the energy and construction sectors, the statement read.

Contrary to the Opposition’s negativity on governance, “international experts say ‘Malta’s very high institutional strength assessment is underpinned by the country’s very favourable scores on the Worl d wide Governance Indicators as well as by its robust policy framework’”.

According to Moody’s, in the government effectiveness, rule of law and control of corruption categories, Malta is above the median for Moody’s A-rated sovereigns and significantly above its rating peers. 

The statement also noted significant progress in the energy sector, and on the labour market. It also noted that reforms resulted in Enemalta making a profit in 2015, which allowed it to pay off part of its debt.

 

As for social services, “Moody’s remarked that measures taken resulted in 2000 youths no longer being on benefits”.