maltas economy grows over 3 per cent
News Posted On: 25 November 2008
Property Investment News
Malta has continued to experience economic growth in 2008, official figures have revealed.
According to the Central Bank, the country saw growth of 3.2 per cent between April and June this year, reports the Independent.
Although this is slightly down on earlier estimates of 3.4 per cent, this shows that Malta has so far avoided slipping into recession.
This marks a contrast with many other parts of Europe, as the eurozone has now seen two successive quarters of negative growth.
The Central Bank also revealed that consumers and businesses across Malta are expressing mixed sentiments.
However, a recent survey of overall confidence in the business sector found that the global financial crisis has had a negative effect, as optimism is on the wane.
Nevertheless, the Maltese economy recently received a boost from the news that Air Malta is to operate 110 flights a week as part of its winter schedule.
This will include services to 30 different destinations, opening the country up to holidaymakers and overseas property investors.
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