The weekly cost of living increase for 2020 is €3.49 per week. In line with recent years, this increase will be granted in full to employees and pensioners and pro-rated to students.
The 12-month moving average rate of inflation in August 2019 stood at 1.7%. Inflation is expected to reach 1.9% in 2020.
Estimated tax revenue for 2019 is expected to be €4.6bn and is expected to rise to €5bn by 2020.
Inbound tourists up to July 2019 amounted to 1.5m. Inbound tourists increased by 4.2% from 2018.
Government debt as at the end of 2019 is expected to amount to around 43.1% of GDP (i.e. €5.7bn) and is expected to reduce to 40.4% of GDP by 2020.
A record number of 25 new financial instruments were listed on the Malta Stock Exchange in 2019.
The income distribution in Malta is relatively fairer when compared to the EU average with the wealthiest 20% of the population having an income which is on average 4.3 times higher than that of the poorest 20% of the population.
The surplus for 2019 is expected to amount to around €48.5m (1.4% of GDP) up from €33.3m as had been expected in 2018. For 2020, this is expected to grow to around €114m.
GDP for 2020 is expected to be €14bn representing an increase of 4.3% in real terms.
The unemployment rate as at June 2019 stood at 3.4%. The unemployment rate for 2020 is expected to be 3.5%, remaining below the EU average rate.
During the first 6 months of the year, the Maltese economy has grown by more than 3 times the EU average rate of 1.4%.
During Q1 of 2019, the property price index increased by 6.5% when compared to the same quarter of 2018.
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