Fiscal & Economic Review

Fiscal & Economic Review

During 2015 the economy has grown by an average of 4%

In April 2015 the unemployment rate was at an all time low 5.7% compared to 5.82% in the last quarter of 2014.  The Maltese unemployment rate is much less than the EU average which is held at 9.6% as of April 2015.  Only Germany and the Czech Republic have lower unemployment rates in the EU area.  These are at 4.7% and 4.9% respectively.

By the end of June 2013, the labour force i.e. the total number of people employed plus unemployed stood at 189,620, an increase of 5,915 or 3.2 per cent over the level recorded at the end of June 2012. Meanwhile total employment increased by 5,134 or 3% to reach 176,862.

The twelve month moving average inflation rate stood at 1.1% as at June 2015, compared to 0.6% at June 2014. Malta’s inflation rate is more than the EU average of 0.6%. Inflation is expected to average 1.25% in 2016.

Malta’s current GDP to deficit ratio is at 2.8%.