Moody's has praised Malta's constitutional reforms, the government said in a statement.

In a report about the country's economic and social situation, Moody's said: "we view the adoption of laws based on the Venice Commission recommendations as a sign of the determination of Prime Minister Robert Abela... in tackling Malta's institutional challenges".

The government statement read that Moody's confirmed that the reforms are based on the Venice Commission recommendations, and gave an A2 rating to Malta's institutions while saying that the goog governance level is "in line with peers."

On the economic aspect, the report states that while the Coronavirus left a positive economic impact, "we currently expect that the impact of the shock will be largely transient, with the Maltese economy returning to growth in 2021".

The government stated that Moody's confirmed that Malta's rating has stable prospects.