Malta: 2009 Article IV Consultation: Staff Report; Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Malta

IMF Staff Country Reports, September 14, 2009

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Malta: 2009 Article IV Consultation: Staff Report; Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Malta

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Bibliographic details

• Published: September 14, 2009
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781451826654.002

Economic developments and outlook

• Malta’s financial sector has so far weathered the global turmoil relatively unscathed.
• The real economy has been decelerating since the last quarter of 2008.
• The staff report for Malta’s 2009 Article IV Consultation underlies economic developments and policies.

Fiscal position

• The fiscal position deteriorated sharply in 2008, owing to one-offs and spending slippages.
• The immediate goal for fiscal policy should be to mitigate the negative spillovers on activity from the global crisis without compromising the already fragile public finances.

External sector

• The current account deficit improved to 5½ percent of GDP.

Policy focus and priorities (implicit in staff assessment)

• Mitigate negative spillovers of the global crisis on activity.
• Preserve fiscal sustainability given fragile public finances.

Subject coverage and keywords

• Subject: Banking, Expenditure, External debt, Financial institutions, Inflation, Loans, Prices, Public debt, Special Data Dissemination Standard (SDDS)
• Keywords: authority, CR, crisis, crisis impact assessment, FDI destination, FDI inflow, GDP, Global, IMF staff estimate, Inflation, ISCR, liquidity position, Loans, tourism sector, trade partner

Content in this bundle

• Cr09287
  • Cr09287 (PDF)