The European Commission recently published their winter forecast for this year. The report acknowledged the success of the government of Malta with regards to containing the deficit and reducing its debt. The Commission expects that the budget deficits of Malta will continue to decrease and reach a rate of below 2%, which would be the lowest in over 20 years.
The Minister of Finance, Edward Scicluna confirmed the Commission’s confidence in the government’s fiscal plan, that resulted in the low unemployment rate and the increase of the GDP. All this despite the slow economic growth in the EU. He added that, although the opposition claims that the economy in Malta is driven by public spending, the Commission confirmed that the private consumption is rising, as more disposable income is available and more people are in employment. It is expected that Malta’s unemployment rate will remain below 6%.
This positive forecast shows that Malta is on the right track. The government is implementing measures to further strengthen the economic situation in Malta. Companies who wish to settle on the islands can benefit from an interesting taxation structure that enables companies to a refund of 6/7 of the corporation tax with the right company structure, many skilled workers and a strategic location in the EU. The top two sectors contributing to the GDP in Malta are the finance and the iGaming industry. Remote gaming operators do not only benefit from the taxation structure, but also from the reputation of Malta as a gaming jurisdiction. It is one of the most reputed licences to have, and the players are confident in playing at website that have an MGA licence.
The office of Dr. Werner & Partner in Malta is specialised in company incorporations, iGaming licence applications and assisting you to move to Malta. More information you can find on our website, or you can contact us for a personal consultation.
