Malta’s Debt Increases By €762 Million To €8.7 Billion
In its quarterly review the National Statistics Office said that Malta’s general government debt has increased by €762 million up till the end of September to reach €8,737.8 million, or 53.2% of the gross domestic product.
Almost all components of state revenue recorded an increase, with current taxes on income and wealth registering an increase of €68.6 million over the same period in 2021.
Total expenditure in the third quarter of 2022 amounted to €1,601.5 million, a decrease of €18.6 million over the corresponding quarter in 2021.
The largest decrease was recorded in current transfers payable (€81.6 million), followed by social benefits and social transfers in kind (€0.8 million) and current taxes on income and wealth (€0.4 million).
Currency and deposits stood at €474.3 million, an increase of €5.3 million over September, 2021.
This includes euro coins issued in the name of the Treasury, considered a liability of Central Government and the 62+ Malta Government Savings Bond, the latter amounting to €377 million.
General Government guaranteed debt amounted to €1,164.3 million at the end of September 2022, equivalent to 7.1 per cent of GDP. There was a decrease of €38.0 million when compared to the third quarter of 2021
What do you make of the rising liabilities the country is facing?
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