Economy

"Surplus for 2018 is expected to be 0.5% of GDP"

The economy in 2017


€88m

The government reported a surplus in its finances which is expected to amount to around €88m (equivalent to 0.8% of GDP). For 2018, the surplus is expected to be 0.5% of GDP



€10.8bn

GDP for 2017 is expected to be €10.8bn. Furthermore, next year, GDP is expected to increase by 7.6% in nominal terms (5.6% in real terms)



4.1%

In August 2017, the number of people registering for work amounted to less than 2,500. The rate of unemployment is estimated at 4.1% of the labour supply



1.1%

The 12-month moving average rate of inflation in August 2017 stood at 1.1%  which is the same as that registered in August 2016.  For 2018, the rate of inflation is expected to be 1.5%



€1.75

The weekly cost of living increase for 2018 is €1.75 per week. Pensioners will receive an increase of €2 per week



€3.7bn

Estimated tax revenue for 2017 is expected to be €3.7bn and is expected to rise to €4.4bn by 2020



1.9m

Inbound tourists in 2016 amounted to over 1.9m visitors representing an increase of 10.2% over the previous year



€5.9bn

Government debt as at the end of 2017 is expected to amount to 54.9% of GDP (i.e  €5.9bn) and is expected to decrease to 44.6% of GDP by 2020



€2.1bn

The visible trade gap reached €2.1bn for the period January to July 2017 due to exports decreasing at a higher rate than the decrease in imports over the same period



1,414

The total number of Collective Investment Schemes between January and August 2017 increased by 83 bringing the total licensed number of Collective Investment Schemes to 1,414

Contact us

Neville Gatt

Neville Gatt

Head of Tax, PwC Malta

Tel: +356 2564 6791

David Ferry

David Ferry

Tax Partner, PwC Malta

Tel: +356 2564 6897

Bernard Attard

Bernard Attard

Tax Partner, PwC Malta

Tel: +356 2564 6726

Mirko Rapa

Mirko Rapa

Tax Partner, PwC Malta

Tel: +356 2564 6896

Steve Gingell

Steve Gingell

Tax Partner, PwC Malta

Tel: +356 2564 6896

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