A year that closed with good cheer

According to the European Commission, the economic sentiment index for Malta in December was 4% above the country’s historical average. In contrast, across Europe confidence was 4% lower than the historical average. The monthly survey carried out by the European Commission among businesses and consumers across all European Union countries indicates that, during December 2023, Malta saw an upsurge in economic sentiment that was much better than that in across the rest of the...

Deficit for first 9 months of 2023 was half that of 2022

Between January and September 2023, Malta’s fiscal deficit shrank to €296 million, a significant improvement from the €633 million deficit recorded in the same period in 2022. Recenty released data show that, during the first nine months of 2023, the deficit had halved when compared with the same months of 2022. In fact, between January and September 2023 the deficit amounted to €296 million, as against €633 million in the same period in...

As euro area inflation rises, Malta’s rate continues to fall

In December 2023 the inflation rate observed in Malta fell to 3.6%, from 3.9% in November. Compared to a year earlier, the rate has almost halved. The first news release issued in 2024 by the European statistics agency, Eurostat did not make for nice reading. In fact, it indicates that the inflation rate across the euro area increased by around half a percentage point between November and December 2023. The...

A week of good news for manufacturing

Official data confirm that the manufacturing sector in Malta is faring well, in stark contrast to what is happening in other countries - particularly in Europe. A series of press releases issued by the National Statistics Office (NSO) has indicated how well the manufacturing sector in Malta is faring, in stark contrast to what is happening in other countries – particularly in Europe – where firms are being faced...
Budget 2024EconomyStories

Curbing inflation for lower-income households

In a recent study, three Central Bank economists concluded that, compared to 2023, when most pensioners ended up either with a stable purchasing power or with a reduction, in 2024 all pensioners will be better off. A recent Central Bank of Malta study looks at how the recent surge in inflation impacted lower-income households. Three economists first define a new measure of inflation which is calculated based on the actual expenditure patterns of low-income persons and of retired...