The Central Bank of Malta published its June Economic Update, reporting that business conditions remained above their long-term average in May as activity maintained solid momentum. Industrial production rose 7.3% year on year in April, services production increased 10.0% in March and tourist expenditure grew 13.1% in April. Consumer sentiment also improved significantly in May, although the European Commission suspended several business survey indicators for Malta because of changes in partner institutes. Harmonised Index of Consumer Prices inflation declined to 2.1% in May from 2.5% in April, while the unemployment rate edged up to 3.6% in April from 3.5% in March. The Consolidated Fund recorded an EUR 18.8 million surplus in April, compared with a EUR 21.0 million deficit a year earlier. Annual resident deposit growth slowed to 6.2%, while credit growth held at 7.7%, supported mainly by lending outside general government.
Central Bank of Malta2026-06-26
Central Bank of Malta reports above-average business conditions as inflation falls to 2.1%
The Central Bank of Malta reported that business conditions remained above their long-term average, supported by growth in manufacturing, services and tourism. Inflation fell to 2.1% in May, while unemployment edged up to 3.6% in April. Resident deposit growth slowed, but credit growth remained unchanged at 7.7%.