IMF: Malta GDP growth forecast to reach 3.5%

IMF revises Malta’s GDP forecast

International Monetary Fund (File photo)
International Monetary Fund (File photo)

The International Monetary Fund has slightly revised up Malta's forecast Real GDP growth for this year, and slightly revised down the forecast for next year.

In April 2023, the IMF's World Economic Outlook had forecast Malta's Real GDP growth to be 3.5% this year, and 3.5% next year.

In October's edition of the World Economic Outlook, the projection for Malta this year rose to 3.8%, the highest percentage in the EU, but next year's forecast dropped to 3.3%, although it would still be the highest percentage in the EU alongside Ireland.

Reacting to the report, Abela welcomed the forecast on X, formerly known as Twitter.

“Despite weakening international conditions, the IMF has revised up its GDP forecast for Malta to 3.8% and sees us as the fastest growing EU economy this year and the next, with the lowest unemployment rate in both years. Budget 2024 will see us strengthen our economy further,” Abela said.