{
  "title": "Malta: Staff Report for the 2005 Article IV Consultation",
  "publication": "IMF Staff Country Reports, October 24, 2005",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/malta-staff-report-for-the-2005-article-iv-consultation-18642",
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  "summary": "This 2005 Article IV Consultation highlights that Malta’s economic growth languished in 2004 for a fourth consecutive year. Slow growth reflected the weakness of, and increasing competition in, Malta’s export markets, as well as domestic factors.",
  "publishDate": "2005-10-24",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Overview and headline findings",
      "content": "- Malta’s economic growth languished in 2004 for a fourth consecutive year.\n- Slow growth reflected the weakness of, and increasing competition in, Malta’s export markets, as well as domestic factors.\n- The slowdown had begun with shocks to the key sectors, and was reinforced by slow growth in Malta’s trading partners and by recent oil price rises.\n- Although growth was weak, the fiscal balance was improved substantially in 2004.\n- Parastatal reform gathered steam in 2004."
    },
    {
      "heading": "Macroeconomic context and drivers",
      "content": "- External environment:\n  - Weakness and increasing competition in Malta’s export markets.\n  - Slow growth in Malta’s trading partners.\n  - Recent oil price rises reinforced the slowdown.\n- Domestic factors:\n  - Shocks to key sectors triggered the initial slowdown.\n  - Domestic structural and sector-specific factors contributed to continued weak growth."
    },
    {
      "heading": "Fiscal and public sector developments",
      "content": "- Fiscal balance:\n  - The fiscal balance was improved substantially in 2004 despite weak growth.\n- Public sector reform:\n  - Parastatal reform progressed, described as having \"gathered steam.\""
    },
    {
      "heading": "Thematic subjects covered in the report",
      "content": "- Banking\n- Exchange rates\n- Expenditure\n- Fiscal consolidation\n- Fiscal policy\n- Foreign exchange\n- Public debt\n- Revenue administration"
    },
    {
      "heading": "Keywords and focus areas highlighted",
      "content": "- Asia and Pacific\n- authorities' ERM-2 strategy\n- authority\n- Central and Eastern Europe\n- CR\n- ERM-2\n- Europe\n- Exchange rates\n- financial system\n- Fiscal consolidation\n- growth\n- ISCR\n- Maltese authorities\n- policy dialogue\n- semi-conductors price\n- summer tourism season\n\nMalta: Staff Report for the 2005 Article IV Consultation, IMF Staff Country Reports 2005, 381.\n\n---\n\n Content in this bundle\n\n- Cr05381 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2016/12/31/malta-staff-report-for-the-2005-article-iv-consultation-18642"
    }
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    "Published: October 24, 2005",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451826616.002",
    "Malta’s economic growth languished in 2004 for a fourth consecutive year.",
    "Slow growth reflected the weakness of, and increasing competition in, Malta’s export markets, as well as domestic factors.",
    "The slowdown had begun with shocks to the key sectors, and was reinforced by slow growth in Malta’s trading partners and by recent oil price rises.",
    "Although growth was weak, the fiscal balance was improved substantially in 2004.",
    "Parastatal reform gathered steam in 2004.",
    "External environment:",
    "Domestic factors:",
    "Fiscal balance:",
    "Public sector reform:",
    "Banking",
    "Exchange rates",
    "Expenditure",
    "Fiscal consolidation",
    "Fiscal policy",
    "Foreign exchange",
    "Public debt",
    "Revenue administration",
    "Asia and Pacific",
    "authorities' ERM-2 strategy",
    "authority",
    "Central and Eastern Europe",
    "CR",
    "ERM-2",
    "Europe",
    "Exchange rates",
    "financial system",
    "Fiscal consolidation",
    "growth",
    "ISCR",
    "Maltese authorities",
    "policy dialogue",
    "semi-conductors price",
    "summer tourism season",
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