Malta:2022 Article IV Consultation-Press Release; and Staff Report

Author: International Monetary Fund. European Dept.

Malta: 2022 Article IV Consultation-Press Release; and Staff Report

Volume/Issue: Volume 2023 Issue 078

Publication date: February 2023

ISBN: 9798400233364

$20.00

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Topics covered in this book

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Inflation , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , Business and Economics - Statistics , International - Economics , SDDS preparation , money market rate , liability positions vis-à-vis nonresident , Policy recommendation , property price index , External sector statistics , Energy prices , Inflation , Global , Europe

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Summary

Malta’s economy rebounded strongly from the pandemic. However, the indirect impact of Russia’s war in Ukraine, including the anticipated slowdown in the European economy, high and volatile global energy prices, rising import costs, and weakened public finances following the pandemic are weighing on the outlook. The Maltese economy is expected to slow from 6¼ percent this year to 3¼ percent in 2023. The financial system has proved to be resilient to the pandemic with ample capital and liquidity buffers. In June 2022, the Financial Action Task Force (FATF) removed Malta from its grey list of anti-money laundering and combatting the financing terrorism (AML/CFT) framework.