Malta's Economic Strength Recognised as Credit Ratings Remain Strong

International credit rating agency Morningstar DBRS has confirmed Malta's long-term foreign and local currency sovereign credit rating at A (high) with a stable outlook, citing strong economic growth and a resilient external position.

Malta's economy delivered impressive growth of 6% in 2024, significantly outperforming the Eurozone average of 0.9%, driven by strong tourism, professional services, and financial sector exports. Growth is projected to remain robust at around 3.5% through 2027, continuing to exceed EU averages.

Malta maintains a healthy public debt position at 46.2% of GDP, well below the eurozone average, demonstrating fiscal discipline. The country also boasts a large current account surplus of 5.5% of GDP, driven by service exports in online gambling and tourism.

The banking sector demonstrates strong fundamentals with core banks holding a Tier 1 capital ratio of 21.0% and an impressively low non-performing loan ratio of 2.1%. Between 2014 and 2024, Malta experienced remarkable population growth of around 32%, the highest among EU countries, reflecting the nation's attractiveness.

The Morningstar DBRS report confirms Malta's long-term foreign and local currency sovereign credit rating at A (high) after a report earlier this year from Fitch

This follows a separate but equally positive rating from Fitch. The credit agency rated Malta an A+ with a stable outlook. In the report, the agency praised the country's robust growth performance, strong external finances, and eurozone membership. Fitch projects continued strong growth of 4.3% in 2025 and 4.1% in 2026, with unemployment at an enviable 3.1%.

The ratings for Malta also reflect its position as a strategically located gateway to Europe and Asia. There is a strong culture of innovation, and the country benefits from the presence of a talented professional cohort, a thriving financial services sector, and use of English as an official language.