Malta retains high credit rating

It registered a growth if Malta’s economy of approximately 1% despite the global economic crisis. However it expressed concern about the increasing government debt estimated at 74% of GDP for 2010.

Concerns were expressed about the risks Enemalta and the property market are posing on the health of the financial sector and the economy at large.

Confidence in political institutions was also expressed and their commitment to establishing “sustainable financial resources.”

The Maltese economy contracted by 2.1% in 2009 when key exports of tourism and electronic goods fell as a result of the global recession, as well as the effects of a reduction in real investment in 2008. However Standard and Poor’s are expecting Malta to return to a state of economic growth in 2010.