General government debt increased by €762 million by the end of September when compared to a year earlier, to reach 53.2% of the gross domestic product, the National Statistics Office said.
It said that general government debt at the end of September stood at €8,737.8 million.
Currency and deposits stood at €474.3 million, an increase of €5.3 million over September of 2021. This includes euro coins issued in the name of the treasury, considered a liability of central government, and the 62+ Malta Government Savings Bond, the latter amounting to €377 million.
Infographic: NSOLong-term and short-term debt securities increased by €473.9 million and €277.5 million, respectively. Long-term loans increased by €6.8 million, while short-term loans decreased by €1.5 million. Local government debt stood at €2.1 million.
General government-guaranteed debt amounted to €1,164.3 million, equivalent to 7.1% per cent of GDP. There was a decrease of €38 million when compared to the third quarter of 2021.
Deficit
The general government recorded a deficit of €127 million in the third quarter of 2022. Between July and September, total revenue stood at €1,474.5 million, €151.1 million more than in the same period in 2021.
Almost all components of general government revenue recorded an increase, the highest being current taxes on income and wealth, which registered an increase of €68.6 million over the same period in 2021.
Capital transfers receivable decreased by €9.7 million. Total expenditure in the third quarter of 2022 amounted to €1,601.5 million, a drop of €18.6 million over the corresponding quarter in 2021.
The largest decrease was recorded in current transfers payable (€81.6 million) while the highest increase was in subsidies payable (€44.2 million).
Adjustments were made to the government’s consolidated fund data to shift to accrual-based accounts and comply with the requirements of ESA 2010.
In the third quarter of 2022, these adjustments brought about an increase of €123.4 million to the consolidated fund deficit.