Malta Government Registers Deficit Of €62.9 Million By End Of February
Central Government debt records an increase, while Maltese Government stocks and Foreign Loans decrease
By the end of February 2019, the Government’s Consolidated Fund has registered a deﬁcit of €62.9 million, according to the NSO.
During the same period last year, the government had registered a surplus of €18.7 million.
Recurrent revenue, it should be noted, increased by €31.3 million when compared with the previous year, amounting to €689.2 million.
The increase was primarily the result of an increase in Income Tax (€21.6 million) and Social Security (€19.5 million).
Meanwhile, total expenditure at the end of February 2019 stood at €752.1 million, a 17.7% increase over the first two months of 2018
Recurrent expenditure stood at €650.9 million, €73.9 million higher than 2018, with its main contributor being the €53.2 million increase in Programmes and Initiatives.
The government’s capital expenditure also registered an increase of €38.7 million. The rise was mainly due to added spend on EU Internal Security Fund - Borders and Visa (€14.6 million), and road construction and improvements (€14.2 million).
During February 2019, Central Government Debt stood at €5,440.4 million, an increase of €31.4 million.This was primarily the result of higher Treasury Bills (€198.3 million) and the 62+ Malta Government Savings Bond (€92.6 million). Euro coins issued in the name of the Treasury also rose by €6.1 million.
On the other hand, Malta Government Stocks and Foreign Loans decreased by €240.7 million and €7.9 million respectively.