Moody’s Ratings has affirmed Malta’s long-term issuer rating at A2, maintaining a stable outlook, the credit rating agency announced. The A2 rating reflects Malta’s robust economic performance, which is expected to persist, driven by the country’s ability to grow significantly faster than similarly rated peers. This strength is underpinned by a relatively diversified economic base, despite Malta’s small size. Moody’s long-term assessment also considers the balance between Malta’s ageing native population and the positive impact of net migration inflows. While migration supports a dynamic labour market, it also presents challenges for Malta’s infrastructure, given the island’s physical capacity limitations, the agency noted.
Property prices in Grand Harbour region decline – study
Demand for residential and office space in the Grand Harbour region is falling, with asking prices continuing to decline. Meanwhile, retail rental costs have surged, doubling over the past year, according to a new report by KPMG released this week. The report highlights a mixed picture for the area, which is bucking broader trends in some aspects. Property prices in Malta’s other five regions have recovered from last year’s slight dip, now showing modest increases. These range from a 1% rise in Gozo to a 12% jump in the north-west areas of Malta. However, a finished apartment in the Grand Harbour towns—such as Valletta, Floriana, and Cottonera—now costs €2,795 per square metre, nearly €1,000 less than in 2022. This marks a drop of more than 25% in asking prices over the past two years, suggesting that estate agents in the region are struggling to attract buyers at current rates. (Times of Malta)
Police officer charged with leaking information to third parties. A police officer has been placed in preventive custody following accusations of leaking information about police operations to third parties. Cherise Camilleri, a 28-year-old from Qormi, denied the allegations during a brief but tense arraignment on Saturday afternoon. The court was informed that an investigation had revealed several confidential sources claiming a drugs squad officer had been leaking operational details for months, and possibly even years. The defence chose not to request bail at this stage. (Maltatoday) Additional reporting by NET News suggests that one of the persons receiving the leaked information was Lilu l-King.
