Malta in Lebanon

In 2024, Malta's economy demonstrated robust performance, achieving a real GDP growth of 5.0%. This growth was primarily driven by strong domestic demand and a positive contribution from net exports, reflecting increased tourist arrivals and robust immigration flows.

Key Economic Indicators for 2024:

GDP Growth: 5.0%
Inflation Rate: 2.5%
Unemployment Rate: 3.2%
Government Deficit: 4.0% of GDP
Public Debt: 49.8% of GDP

The tourism sector played a significant role, with arrivals between January and August 2024 increasing by 21.1% compared to the same period in 2023. This surge contributed to higher overall tourism expenditures.

Employment grew by 4.3% in 2024, supported by high immigration flows addressing labor and skills shortages. The unemployment rate remained low at 3.2%.

Inflation moderated to an average of 2.5% in 2024, with stable energy prices contributing to this trend.

The government deficit decreased to 4.0% of GDP in 2024, down from 4.5% in 2023, mainly due to reduced subsidies and restructuring costs. Public debt stood at 49.8% of GDP, remaining below the 60% Maastricht threshold.

The financial system remained resilient amid successive shocks, and over the medium term, Malta's economy is projected to continue outperforming other European countries.