Performance of the economy


The surplus for 2018 is expected to amount to around €16.6m (1.1% of GDP). For 2019, this is expected to grow to around €33m.


GDP for 2018 is expected to be €12bn representing an increase of 7.7% in nominal terms (5.3% in real terms).


The unemployment rate for the first quarter of 2018 stood at 3.9%. The unemployment rate for 2019 is expected to be 4.1%, remaining below the EU average rate.


The trade gap amounted to €1.7bn for the period January to July 2018, €123.7m wider than the corresponding period in 2017. It reflects the fact that exports decreased at a higher rate than imports when compared to the same period in 2017.



The weekly cost of living increase for 2019 is €2.33 per week. In line with recent years, this increase will be granted in full to employees and pensioners and pro-rata to students.



The 12-month moving average rate of inflation in September 2018 stood at 1.7%. Inflation is expected to reach 1.9% in 2019.


Estimated tax revenue for 2018 is expected to be €4.2bn and is expected to rise to €4.6bn by 2019.


Inbound tourists for 2017 numbered 2.2m. Inbound tourists increased by 16.9% between January and July 2017 over the same period in the previous year.


Government debt as at the end of 2018 is expected to amount to around 46.8% of GDP (i.e. €5.6bn) and is expected to reduce to 43.8% of GDP by 2019.


During Q2 of 2018, the property price index increased by 5.7% when compared to the same quarter of 2017.

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