## Malta: 2020 Article IV Consultation-Press Release and Staff Report

_IMF Staff Country Reports, April 10, 2020_

## Source details

**Canonical URL:** [Malta: 2020 Article IV Consultation-Press Release and Staff Report](https://www.imf.org/en/publications/cr/issues/2020/04/09/malta-2020-article-iv-consultation-press-release-and-staff-report-49318)

## Other formats

- [Markdown version](/en/publications/cr/issues/2020/04/09/malta-2020-article-iv-consultation-press-release-and-staff-report-49318/index.md)
- [Structured JSON version](/en/publications/cr/issues/2020/04/09/malta-2020-article-iv-consultation-press-release-and-staff-report-49318/index.json)
- [Bundle manifest](/en/publications/cr/issues/2020/04/09/malta-2020-article-iv-consultation-press-release-and-staff-report-49318/bundle-manifest.json)

## Bibliographic details
- Published: April 10, 2020
- Series: IMF Staff Country Reports

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### Executive summary and context
- The 2020 Article IV Consultation focuses on Malta’s near and medium-term challenges and policy priorities and was prepared before coronavirus disease 2019 became a global pandemic and resulted in unprecedented strains in global trade, commodity and financial markets.
- Pursuing structural reforms is expected to help sustain Malta’s growth performance while promoting social inclusion.

### Key findings
- Structural reforms are needed to:
  - Encourage female and elderly participation in the labor market.
  - Upskill the labor force.
  - Stimulate innovation.
- Governance shortcomings remain and should be addressed without delay to safeguard the business climate, specifically:
  - Step up the fight against corruption.
  - Increase the efficiency of the judicial system while ensuring its independence.
- Access to affordable housing needs improvement as a key priority to support greater inclusion.
- Fiscal stance and management:
  - It is imperative to maintain gradual consolidation to ensure a balanced structural budget excluding proceeds from the Individual Investor Program.
  - Continue addressing infrastructure needs while upgrading public investment efficiency.
  - Improve fiscal risk analysis and management.

### Policy recommendations
- Labor market and human capital:
  - Promote policies to increase female and elderly labor force participation.
  - Invest in upskilling programs and measures to stimulate innovation.
- Governance and rule of law:
  - Intensify anti-corruption efforts.
  - Enhance judicial efficiency while preserving judicial independence.
- Inclusion and housing:
  - Improve access to affordable housing as part of inclusion strategy.
- Fiscal policy and public investment:
  - Maintain gradual fiscal consolidation to achieve a balanced structural budget excluding proceeds from the Individual Investor Program.
  - Continue addressing infrastructure needs with a focus on upgrading public investment efficiency.
  - Strengthen fiscal risk analysis and management frameworks.

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## Content in this bundle

- **1mltea2020001**
  - [1mltea2020001 (Markdown version)](/-/media/files/publications/cr/2020/english/1mltea2020001.pdf.md){rel="alternate" type="text/markdown"}
  - [1mltea2020001 (PDF)](/-/media/files/publications/cr/2020/english/1mltea2020001.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2020/04/09/malta-2020-article-iv-consultation-press-release-and-staff-report-49318_