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Fitch expects Malta deficit to be 8.2% in 2020, debt up by €2 billion

Fitch believes Malta’s real GDP will contract by 5.9% in 2020, a more austere outlook than a recent IMF prediction   Credit rating agency Fitch has revised Malta’s outlook to stable, from positive, and affirmed its A+ credit rating. Fitch believes Malta’s real GDP will contract by 5.9%...

Fitch Revises Malta’s Outlook to Stable; Affirms at ‘A+’

Link to Fitch Ratings' Report(s): Malta - Rating Action Report   Fitch Ratings has revised Malta's Outlook to Stable from Positive and affirmed the Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) at 'A+'.   A full list of rating actions is at the end of this rating action commentary.   Under EU...

Russia notifies Luxembourg, Malta about dividend tax increase

Changes will not affect interest gains paid on Eurobond loans, bond loans of Russian companies and loans extended by foreign banks, according to Russia's Finance Ministry.   The Russian Ministry of Finance has notified finance ministries of Luxembourg and Malta about amendments to double taxation avoidance agreements...

MoU signed on first trade delegation to Poland

Minister Chris Cardona is currently in Poland leading the very first trade delegation to the country compromising of some 50 strong business leaders and entrepreneurs to explore business and investment opportunities between the two countries. The delegation is made up of officials from companies in...

EU revises its growth forecast for Malta

Minister for Finance Edward Scicluna welcomes the European Commission’s 2018 Winter Forecast wherein Malta’s growth rates have been revised upwards for the years 2018 and 2019.   Minister Scicluna stated that, “this upward revision on behalf of the EU is a confirmation that Malta’s high rates of...

Safer Banking

It was exactly three years ago that the European Central Bank assumed joint supervisory responsibility with local regulators of large and systemically important banks in the Eurozone. Malta’s larger banks are now regulated and supervised directly by the ECB and the Malta Financial Services Authority.   There...

Financial services firms expect to recruit more staff

More than four in five (81 per cent) senior professionals in Malta’s financial services sector expect their companies to increase the number of employees over the next five years, research commissioned by Managing Partners Group, the international asset management group, shows. The research – 43 senior professionals...

Financial sector could grow to 15% of GDP – survey

Main driver will be company relocation to Malta   A survey of 43 professionals working in Malta’s financial services industry reveals the clear majority expect the sector to enjoy strong growth over the next five years.   The sector currently contributes just over 12% of Malta’s GDP, but 87%...

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