Maltese Government Registers €250 Million Surplus For 2018 Despite €490 Million Expenses Increase

Malta registered the second largest surplus relative to GDP in the entire EU

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Despite dropping by €136 million from the previous year, the Maltese government has still registered a surplus of €250 million for 2018.

Eurostat figures also show that only Luxembourg recorded a larger surplus relative to GDP than Malta (2%) in the entire EU. This, however, was still a decrease of 1.4 percentage points when compared with 2017.

Figures do show that, by the end of 2018, revenue had grown by roughly €353 million, however, total expenditure also increased, by a significant €490 million. Current totals stand at €4,783 million and €4,532 million respectively (that's over €4.5 billion).

Notably, the gross consolidated debt decreased by €17 million. Now standing at €5,665 million, the debt-to-GDP ratio is at 46%.

It should be noted that the Government’s Consolidated Fund actually registered a deficit of €70 million – a decrease over the surplus of €182 million recorded in 2017.

Speaking on Twitter, Prime Minister Joseph Muscat said the continuing surpluses showed that, under his leadership, the country has gone from “unsustainability to sustainability”.

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Written By

Julian Bonnici