Standard & Poor’s has confirmed A- positive rating for Malta, the government said, adding that the analysis was carried out before it was announced that Malta had registered the first budget surplus in 35 years.

The government said S&P arrived at their decision after analysing Malta’s strong economy: our ratings on Malta are supported by its strong growth performance coupled with consistent current account surpluses, as well as by narrowing government deficits and improved fiscal management.

In its previous report, S&P had upgraded Malta to its present position after it had gradually dropped from A+ to BBB+. Conversely, today “Malta continued to enjoy one of the strongest macroeconomic expansions in the Eurozone”.

S&P believe that Malta is in a strong position to meet the effects of Brexit.