The Central Bank of Malta has revised Malta's economic growth projections, saying on Thursday that it expects gross domestic product (GDP) to grow by 6.0% in 2022, by 5.3% in 2023 and by 3.8% in 2024 Compared to the bank’s earlier projections, the level of GDP is being revised upwards due to an estimated 1.2 percentage point higher growth in 2021. Pre-pandemic economic activity levels would thus have been attained earlier than projected in the bank’s previous projections exercise. Consequently, the GDP growth rate for 2022 is being revised down by 0.5 percentage points. Revisions to the subsequent two years are not significant. The bank said that in 2022, domestic demand is expected to be the main driver of growth, reflecting strong growth in private and government consumption. In addition, net exports are projected to also contribute strongly this year, as exports accelerate, while imports are projected to grow at a slower pace. Slowdown in imports mirrors drop in investment The slowdown in imports in turn mirrors the expected drop in investment in 2022, following exceptional outlays in certain sectors in 2021. In the following years, domestic demand is envisaged to continue...