Economic performance has been robust over the recent years. The economy has demonstrated notable resilience in a challenging macroeconomic environment over the past several years. Real GDP growth recovered relatively quickly following the 2009 recession and in 2015 it exceeded the pre-crisis peak. Household consumption and net exports have been the main engines of growth. One-off large-scale projects in the energy sector and the finalisation of EU-funded projects boosted investment in 2014-2015, thus also contributing strongly to the expansion of the economy. Real GDP growth is projected to moderate somewhat after 2015, but to remain higher than the long-term average. As a result of the robust economic performance, Malta’s GDP per capita is projected to reach 97% of the EU average in 2017. Risks to the medium-term macroeconomic outlook are broadly balanced. Downside risks related to trade shocks are mitigated by competitiveness gains from the successful completion of ongoing structural reforms.
Read a complete analysis of Malta's economy in the country report 2016 [2 MB]
2015 recommendations in brief
The Commission has made four country-specific recommendations to Malta to help it improve its economic performance. These are in the areas of: public finances; education; pensions; SMEs.