Malta: 2024 Article IV Consultation-Press Release; and Staff Report
IMF Staff Country Reports, January 22, 2025
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- Malta: 2024 Article IV Consultation-Press Release; and Staff Report
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Bibliographic details
- Published: January 22, 2025
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400299704.002
Growth and economic structure
- Malta has experienced remarkable growth over the past decade, primarily driven by export-oriented service industries, such as tourism and online gaming.
- Continued efforts are needed to raise productivity and foster innovation for sustainable long-term growth.
Long-term vision and fiscal planning
- The government recently launched ‘Malta Vision 2050’ to establish the country’s long-term strategic direction.
- The authorities’ long-term developmental vision should be reflected in fiscal planning.
- It is essential to develop a long-term fiscal framework that reflects emerging spending pressures related to:
- population aging,
- climate transition,
- infrastructure needs.
Innovation, start-ups, and scale-ups
- The authorities should continue evaluating the effectiveness of various schemes to support innovation activities, start-ups, and scale-ups.
- Evaluation should focus on the size and overall design of these schemes.
Climate mitigation and adaptation
- Additional mitigation measures and changes in public behavior are necessary to meet the 19 percent reduction target by 2030 under the Effort Sharing Regulations.
- For climate adaptation:
- the vulnerability risk assessment should be completed,
- the adaptation plan should be updated accordingly.
Subject areas and keywords highlighted
- Subject: Energy prices, Labor, Labor markets, Prices, Public debt, Revenue administration
- Keywords: assessment tool, currency of Malta, Customs organization structure, Energy prices, Europe, Global, Labor markets, Malta tax, Policy recommendation, venture capital fund
Malta: 2024 Article IV Consultation-Press Release; and Staff Report, January 22, 2025
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