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 €5,670 million in February 2017 to €5,409 million, down by €261 million or 4.6 per cent.

PRESS RELEASE BY THE MINISTRY FOR FINANCE

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 €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 €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 €34 million and €24 million respectively. This confirms that consumption and employment growth continue to be robust.

Total expenditure increased by €48 million. The highest increase was recorded in Programmes and Initiatives (€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.”

Friday 23rd March 2018