The resilience of Malta’s service-based economy crucial during COVID

The impact of the COVID-19 pandemic on Malta was less severe thanks to the resilience of our service-based economy and the incentives that were offered, economist Jessica Camilleri said on yesterday’s episode of theDailySpot.

Last year, Malta’s GDP grew by 9.4%, the best rate of growth experienced since 2017. The growth observed in 2021 exceeds by far the predictions made by the European Commission and the Central Bank of Malta.

Camilleri said that the pandemic impacted mostly consumption-led demand and investment.

“In our case, we are a very service-based economy and as such, even though we were still affected, our resilience within those sectors, shone through with the different incentives that were offered, and the resilience of the Maltese and foreign entrepreneurs based here,” she said.

Don’t miss today’s episode at 6pm on theJournal.mt’s Facebook page.  

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