14 January 2014

Mirror mirror on the wall...

Sliema and St. Julian's
Times of Malta 12/01/2014: Mirror mirror on the wall, what’s in store for the Maltese economy in 2014?

Analysts do not resort to witchcraft, but rather to more sober economic reports. Luckily, the festive season has been quite prolific for the Central Bank of Malta, with no fewer than two publications being issued, the Quarterly Review and the Financial Stability Report Update. Of particular relevance is the new vintage of economic projections prepared by the bank’s staff.

The bottom line? The Central Bank is rather optimistic. In 2014, the economy should perform better than it did last year and in 2012, though not to the levels experienced during Malta’s booming years.
The revised forecasts on economic growth are more positive than the earlier vintage, but also more upbeat when compared to the numbers presented by the Minister of Finance during the last Budget speech.

The Valletta-based institution thus indirectly confirms the minister’s remarks that he erred on the side of caution when presenting his Budget. Forecasts prepared by the Central Bank may differ from those prepared by the government because of newly available information being...read on.