Maltas economy projected to grow by 53 in 2019

first_img <a href=’http://revive.newsbook.com.mt/www/delivery/ck.php?n=ab2c8853&amp;cb={random}’ target=’_blank’><img src=’https://revive.newsbook.com.mt/www/delivery/avw.php?zoneid=97&amp;cb={random}&amp;n=ab2c8853&amp;ct0={clickurl_enc}’ border=’0′ alt=” /></a> pexels.compexels.com Malta’s economy is projected to grow by 5.3% compared to a 1.2% average in the euro zone, the European Commission said on Wednesday.This means that Malta’s economy is expected to grow faster among EU member states in 2019, similarly it is projected to grow by 4.8% in 2020 compared to a 1.4% average of euro zone member states.Growth forecast for 2020: 4.8 3.7 3.6 3.4 3.4 3.3 2.8 2.8 2.8 2.7 2.6 2.6 2.5 2.4 2.3 2.2 1.9 1.7 1.6 1.6 1.5 1.5 1.5 1.4 1.4 1.3 1.2 1.2 0.7#ECForecast https://t.co/mGOHfCZNjw— European Commission (@EU_Commission) July 10, 2019In a statement the Commission said that the European economy is set for its seventh consecutive year of growth in 2019, with all Member States’ economies being projected to expand.GDP is projected to grow in all EU member states in 2019 and 2020, however the GDP growth in Malta, Central and Eastern Europe as well as Ireland will be significantly stronger, according to the projections by the Commission.Growth in the first quarter of the year was stronger than expected in the euro area due to a number of factors, the Commission said, citing mild winter conditions and a rebound in car sales among others.The Commission however warned that near-term outlook for the European economy is clouded by external factors which include global trade tensions and significant policy uncertainty. The manufacturing sector is the most exposed to international trade.The GDP forecast for the EU remains unchanged at 1.4% in 2019 and 1.6% in 2020.The forecast by the European Commission is based on a set of technical assumptions which concern exchange rates, interest rates and commodity prices with a cut-off date of 28 June.WhatsApp SharePrintlast_img