According to a review by rating agency DBRS, Malta has been listed amongst the top countries with lowest unemployment rate and the top performer for economic growth in the eurozone.
In a Macroeconomic Update by DBRS covering Europe, Malta’s real GDP showed growth in the first six months, well above the average euro area rate of 2.3%.
Malta has been ranked as the top eurozone performer with economic growth reaching the 5.7% mark in first half of 2018 along with Latvia and Slovenia with growth rates of 4.4% and 4.3% respectively.
Malta was also listed among the three countries with the lowest unemployment rate at 3.9% with Germany at 3.4% topping the list and Netherlands registered a rate par with Malta.
DBRS said growth in the euro area had “a weak start” to the year but remained steady. “Growth was driven by household consumption and gross fixed investment. By country, the top performers include Malta, Latvia, and Slovenia, while the underperformers include Italy, Belgium and France,” DBRS said.
European Central Bank (ECB) at its September policy meeting, revised its economic growth forecast for the eurozone in 2018 downwards to 2.0% from 2.1% following a revision from 2.4% at its June meeting because of rising external risks.
ECB also revised its projection for 2019 downward to 1.8% from 1.9%.