Malta's GDP growth slows, but still among the best in the eurozone - IMF report

Malta's GDP is expected to grow at the third fastest rate in the euro area this year, according to the IMF's World Economic Outlook, published late yesterday. The report projects a growth rate of 1.2% this year. The best performers are projected to be the Slovak Republic at 2.4% and Estonia at 2.0%. Still, Malta's GDP growth would be slower than the 2.1% of last year. Malta's economy is projected to grow by 2% next year. According to the report, consumer prices are this year expected to decelerate to 2.0% from 2.4%, falling to 1.9% next year while unemployment will rise this year to 6.6 (see table above). Annual percent change of real GDP and total domestic demand is projected to climb to 3.1% in the fourth quarter of this year, the best in the eurozone. The International Monetary Fund in its report raised its global growth forecasts slightly for this year and 2013, but warned that Europe's debt crisis and high oil prices could derail recovery. The IMF estimated global growth at an annual rate of 3.5 percent this year, accelerating to 4.1 percent in 2013. The forecasts reflected an upgrade from the January forecast of 3.3 percent and 4.0 percent, respectively. "The...