VALLETTA (MALTA) (ITALPRESS/MNA) – Government debt stood at €10.9 billion at the end of June, marking an increase of over €1 billion compared to the same month last year, according to newly released figures by the National Statistics Office (NSO). The figures also show that the government’s Consolidated Fund recorded a deficit of €457 million. The fund, which operates like the government’s central bank account, gathers tax revenue and finances general government spending.
While recurrent revenue rose by €69.6 million year-on-year, total government expenditure saw a much sharper rise of €437.2 million. This mismatch led to a negative change in the Consolidated Fund balance of €367.6 million. The largest increase in revenue came from social security payments, which totalled €80.7 million. On the expenditure side, the most significant rise was in the “Programmes and Initiatives” category, which increased by €169.3 million. The latest data highlights growing fiscal pressures amid rising government spending, despite steady revenue growth.
– photo IPA Agency –
(ITALPRESS).
