At the beginning of July, Standard and Poor’s revised and upgraded Malta’s credit rating from BBB+ stable to A-2 positive. The rating agency considers Malta’s economic growth is strong and will continue to be so for the following three years, when the Government’s debt will decrease from 59% to 55%. The outlook is based on the continuance of the fiscal consolidation.
The Deputy Prime Minister and the Parliamentary Secretary have joined forces and launched the SME Initiative at the middle of July. The two officials have managed to raise approximately 60 million euros for small and medium sized companies in Malta. The amount should help around 850 companies during the next five years.