10
GAMINGmalta 2O17 EDITION
Country
23%
Foreign: 6%
Maltese: 94%
2%
The Maltese Islands were, just a decade ago, best known as a holiday destination. However, over recent years, the country has sought to diversify its economy beyond tourism by promoting a range of sectors and activities.
Politics
Since gaining independence from the UK in 1964, two parties have dominated Maltese politics, both focused on attracting foreign investment and establishing a stable and competitive business environment. Form of state: Republic Two parties: Labour Party (PL) and Nationalist Party (PN) President: Marie-Louise Coleiro Preca, Head of State Prime Minister: Dr Joseph Muscat, Head of Government Opposition Leader: Dr Simon Busuttil
Tourism 25%
GDP Composition
Agriculture
Economy:
Population: 434,403
Financial Services 12%
Industry
Location: Southern Europe Official Name: Republic of Malta Area: 316 km2 Shoreline Malta: 200 km Shoreline Gozo & Comino: 71.2 km
Source: National Statistic Office, CountryProfiler
Transport 12%
Services
75%
iGaming 10%
GDP Growth:
Inflation:
(2016)
(2016)
+4.1
1.0%
Deficit:
Unemployment rate:
Debt to GDP:
(2016)
(2016)
(2016)
0.7%
5.0%
62.1%
(2016 Autumn European Economic Forecast)
FDI Stock: €152.3 billion (December 2015)
Major airlines flying to the country
FORECAST n MALTA n EU28 Source: 2016 Autumn European Economic Forecast GDP
2017 3.7% 1.6%
Double Taxation Treaties:
70+
Unemployment
2018 3.7% 1.8%
Accounting Standards:
IFRS
2017 5.2% 8.3%
2018 5.2% 7.9%
Corporate Tax: 35%. However, through Malta’s full imputation system, shareholders can claim a tax credit for the tax paid by the company.
Deficit
2017 0.6% 1.7%
Fiscal Year: Calendar Year
Debt
2018 0.6% 1.6%
2017 59.9% 85.1%
2018 57.2% 83.9%
Sovereign Ratings: A/F1 (Fitch, 2016) A3 (Moody’s, 2016) A-/A-2 (Standard & Poor’s, 2016)