Outlook for the Maltese Economy
The Central Bank of Malta closely monitors the outlook for the Maltese economy. Forecasts for key macroeconomic variables such as the gross domestic product and its components, as well as employment and unemployment, inflation and developments in public finances are published four times a year; in February, June, August, and in December, on the Bank's website. The February forecasts are also included in the Bank's Annual Report (published in March). The forecasts cover the current year and three years ahead.
Media release: Central Bank's Forecast 2024-2026 (June 2024)
Latest projections - June 2024
|
|
2023
|
2024
|
2025
|
2026
|
|
GDP growth (% yoy)
|
5.6
|
4.3
|
3.5
|
3.5
|
|
Inflation rate (% yoy)
|
5.6
|
2.4
|
2.0
|
1.9
|
|
Unemployment rate
|
3.1
|
3.1
|
3.1
|
3.1
|
|
General Government budget balance (% of GDP)
|
-4.9
|
-4.1
|
-3.6
|
-3.1
|
|
General Government debt (% of GDP)
|
50.4
|
52.5
|
53.5
|
54.3
|
Throughout the years the Central Bank of Malta has built a forecasting process designed to produce consistent, transparent and plausible forecasts of macroeconomic, fiscal and inflation variables. Projections are typically conditioned on a set of technical assumptions which the European Central Bank transmits to all euro area National Central Banks. This process is described below:
The Forecasting Process at the Central Bank of Malta