LA VALLETTA (MALTA) (ITALPRESS/MNA) – Maltàs government debt has exceeded 10 billion for the first time, reaching 10.01 billion by September 2024. According to figures released by the National Statistics Office, the debt represents a substantial increase of 653.8 million compared to 2023, primarily driven by a 779.8 million rise in Malta Government Stocks. Additional increases were noted in Foreign Loans (71.8 million) and Euro coins issued by the Treasury (3.8 million). The government simultaneously reported a surplus of 142.3 million in its Consolidated Fund, painting a complex picture of the nation’s fiscal health ahead of today’s budget speech. Malta was placed under the EU’s Excessive Deficit Procedure in July 2024, alongside seven other member states. The Malta Fiscal Advisory Council (MFAC) added its voice to these concerns, particularly regarding the government’s energy subsidy policy. Finance minister Clyde Caruana recently indicated that energy subsidies are expected to cost 160 million in 2025, equivalent to 0.7% of GDP-a reduction from 1.4% in 2023.
Despite this, the government’s revenue collection saw substantial growth, with Recurrent Revenue reaching 5.49 billion, marking a 747.8 million increase from the previous year. The primary sources were: Income Tax: Up by 381.2 million, Value Added Tax: Increased by 158.4 million and Social Security: Rose by 106.7 million.
(ITALPRESS).
-. Photo credit: Malta Tourism Office-
