Malta: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Malta
IMF Staff Country Reports, January 29, 2024
Source details
- Canonical URL
- Malta: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Malta
Other formats
Bibliographic details
- Published: January 29, 2024
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400266539.002
Macroeconomic recovery and resilience
- Malta has experienced an "impressive recovery from the pandemic" and "demonstrated resilience to shocks resulting from Russia’s invasion of Ukraine."
- The medium-term challenge is to "ensure a robust policy framework to foster strong, socially- and environmentally-sustainable, and inclusive growth."
Risks to the outlook
- Risks are "tilted to the downside" and include:
- "spillover effects from a possible escalation of Russia’s war in Ukraine or of the Israel–Gaza conflict"
- "a deeper-than-expected economic downturn in Europe"
- Domestic risks: "wage and inflationary pressures could be higher and more persistent"
- Upside scenario:
- "lower-than-expected commodity prices would help decelerate inflation, ease fiscal pressures, and boost growth."
Key policy priorities and recommendations
- Contain demand pressures by "accelerating fiscal consolidation."
- Exit gradually from the current fixed energy price policy while "protecting vulnerable groups."
- Maintain financial stability.
- Boost structural reform efforts to raise productivity.
- Emphasize that "boosting productivity will be imperative to achieve strong, socially-and environmentally sustainable, and inclusive growth."
Thematic focus areas highlighted
- Energy prices and government energy policy.
- Inflation and monetary policy considerations.
- Public debt and revenue administration.
- External sector statistics and the external outlook.
- Anti-corruption framework and broader governance reforms.
- SDDS preparation (data dissemination standards).
Metadata and access
- Publication date: January 29, 2024
- Format references included in source: "IMF Staff Country Reports"
Source: Malta: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Malta (January 29, 2024).
Content in this bundle
- 1mltea2024001