## 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](https://www.imf.org/en/publications/cr/issues/2024/01/29/malta-2023-article-iv-consultation-press-release-staff-report-and-statement-by-the-544248)

## Other formats

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## Bibliographic details
- Published: January 29, 2024
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400266539.002

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### 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).*

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_Source: https://www.imf.org/en/publications/cr/issues/2024/01/29/malta-2023-article-iv-consultation-press-release-staff-report-and-statement-by-the-544248_