DBRS ratings agency has reconfirmed Malta’s A(high) stable rating, a development welcomed by Government.
Malta has enjoyed such a rating since 2018, while in this latest assessment DBRS remarked that the stable trend is reflective of its view that Malta’s strong economic and fiscal track record prior to COVID-19 shocks serve to offset the risks to the ratings.
DBRS also said the economic impact from Malta’s greylisting by the Financial Action Task Force (FATF) “remains unclear” and will largely depend on the speed with which Malta’s authorities address the action points laid out by the global organisation.
It said the actions taken by Malta to strengthen its Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) framework will serve to mitigate the possible risks from greylisting.
DBRS said it expects Malta’s fiscal position to return to healthier times as the COVID-19 support measures are eased and the economy starts to regenerate activity on its own steam, helping to stabilise the public debt ratio.
“Rebuilding the fiscal buffers and strengthening the fiscal balance further will require a fiscal consolidation plan once the economy reaches a self-sustaining path,” it said.
The past few years have seen a dramatic increase in the number of online casinos
Since its inception, the Family Business Office has been instrumental in highlighting the needs of family-run enterprises in Malta.
Seat Load Factor also stood strong during the period, with an increase of 6.8% when compared to 2019