Fitch Ratings Reaffirms Malta's Strong A+ Credit Rating

Credit rating agency Fitch has reaffirmed Malta’s long-term foreign-currency issuer rating (IDR) at 'A+' with a stable outlook, recognising the Mediterranean nation's continued economic growth, strong external finances, and eurozone membership. To note, the IDR is a measurement of how likely a country is to default on its debt obligations and can be referred to as its ‘credit rating’.

The rating agency highlighted that Malta’s economy remains one of the fastest growing in the EU, expanding by 86% since 2014 compared to the Eurozone average of 14%. Annual average GDP growth over the same period was 6.5% which was “well above” the company’s ‘A’ rating three-year current median of 3.8%. Fitch projects continued strong growth of 4.3% in 2025 and 4.1% in 2026, following robust growth of 6% in 2024.

The workforce has nearly doubled from 180,000 in 2015 to 320,000 in the first half of 2025. This is supported by net immigration and higher participation among Maltese nationals.

Despite global economic pressures, Malta has maintained fiscal discipline. The budget deficit narrowed to 3.7% of GDP in 2024, with further reductions expected to 3.0% in 2025 and 2.7% in 2026. Malta's debt performance remains stable at around 47% of GDP, significantly lower than the EU's 60% threshold, positioning Malta among Europe's most financially prudent nations.

Fitch acknowledges that Malta “has one of the strongest growth performances among Fitch-rated sovereigns.” The country’s A+ rating will instil further international confidence in the country’s economic management and growth prospects.