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Structural changes in the Maltese economy

Grech, Aaron George (2015): Structural changes in the Maltese economy. Published in: Annual Report, Central Bank of Malta , Vol. 2014, (April 2015): pp. 72-76.

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Abstract

Since the global recession that took hold around the first decade of this century, Malta registered a more favourable economic performance than most of the other euro area states. It is difficult to reconcile Malta’s relatively high rate of economic growth with the openness of a small economy facing a hostile external environment. However, this could partly be explained by the pronounced structural changes that occurred in the Maltese economy in the years preceding the crisis, which, although a continuation of the trends observed in the decades since Independence in the mid-1960s, gave a new impetus to the economy.

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