Malta: Recent Economic Developments

International Monetary Fund

No 1997/055, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper reviews economic developments in Malta during 1995–97. The brisk pace of GDP growth was maintained in 1995–96. However, the strong output growth was accompanied by a sharp deterioration in the external accounts, reflecting, in the main, a decline in national savings, from 27¾ percent of GDP in 1992–93 to some 20 percent of GDP in 1995–96. Factors contributing to these developments included a marked loosening in the fiscal stance and accelerated growth in bank lending, linked in part to financial market deregulation and intensified competition among banks.

Keywords: ISCR; CR; broad money; treasury bill; central bank; reverse repo; exchange rate; Imports; Public enterprises; Commercial banks; Exports; Asia and Pacific (search for similar items in EconPapers)
Pages: 91
Date: 1997-07-18
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