A recent study by ‘The Heritage Foundation’ and ‘The Wall Street Journal’ has further affirmed the strides Malta has made in promoting its economy globally. The Index of Economic Freedom is worked out on a broad basis, encapsulating 10 economic measurements; business freedom, trade freedom, fiscal freedom, government spending, monetary freedom, investment freedom, financial freedom, property rights, freedom from corruption, and labour freedom.
Malta scored 67.0 on the index. This means that on a global scale the Malta economy is the 50th freest for 2012. The study also considered that within a defined European region of 43 countries, the Malta economy classified 23rd freest, with a score to its credit that is higher than the same regional average.
The study underlined that the efforts made by Malta to broaden international trade, investment, and competitiveness of its financial institutions have helped bolster economic growth. The Malta banking sector was identified as one of the soundest in Europe which stood up to the recent European sovereign debt upheaval well, without needing any capital injections. The result for 2012 is a 1.3 point improvement on the previous year.
