PRESS RELEASE BY THE MINISTRY FOR FINANCE: Central Government debt down by Euros 261 million in the first two months

Minister for Finance Edward Scicluna welcomes the latest Government Finance Data published by the NSO which shows that at the end of February 2018, Central Government Debt decreased from Euros 5,670 million in February 2017 to Euros 5,409 million, down by Euros 261 million or 4.6 per cent.

This confirms that the Government is succeeding in consistently reducing the debt burden on Maltese families.

The significant reduction in the debt figure reflects a surplus of Euros 19 million recorded during the first two months of this year.

The NSO news release also shows that compared to the same period last year, recurrent revenue registered an increase of Euros 36 million in the first two months of this year. This comparative increase was primarily the result of higher Value Added Tax and Income Tax which increased by Euros 34 million and Euros 24 million respectively. This confirms that consumption and employment growth continue to be robust.

Total expenditure increased by Euros 48 million. The highest increase was recorded in Programmes and Initiatives (Euros 38 million) reflecting the initial implementation of the 2018 Budget measures.

Finance Minister Edward Scicluna stated that, Once again, this positive fiscal result shows that Government is committed to continue registering a healthy surplus and reducing the debt burden this year and the coming years.

Source: Government of Malta