American credit rating agency ‘Fitch Ratings’ has given Malta’s economy an A+ rating despite the worse-than-expected tourist season, which is a substantial contributor to the local economy.
Fitch Ratings predict a -7.7 percent drop in GDP, as opposed to the 6.9 percent it had expected back in July and the European Commission’s -7.3 percent forecast.
The company also expects a heavy economic bounce-back for Malta in 2021 with a 5.4 percent forecast for 2021.
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