VALLETTA, May 19 (Xinhua) -- Malta is set to maintain its economic momentum and emerge as the European Union's (EU) fastest-growing economy in 2025, according to the European Commission's spring forecast released on Monday.
The Commission attributes Malta's projected growth to strong domestic consumption and positive net exports. After posting a 6 percent growth in gross domestic product in 2024, the island nation is expected to see its economy expand by 4.1 percent in 2025 and 4 percent in 2026.
The report also noted that Malta's labour market is forecast to stabilise, with inflation anticipated to decelerate over the forecast period.
Welcoming the findings, Prime Minister Robert Abela said in a post on X that the forecast reaffirms Malta's position as the EU country with both the highest economic growth and the lowest unemployment rate.
"As a result, our fiscal deficit will fall below that in the rest of the EU," Abela wrote.
