PN submits belated financial reports
The last published accounts were for 2020
The Nationalist Party on Monday belatedly submitted its audited financial accounts for the past four years to the Electoral Commission.
The accounts for the years 2021–2024 were approved by the party's administrative council.
"As promised by the leader of the Partit Nazzjonalista, Alex Borg, upon marking his first 100 days in office as leader, the PN this morning submitted its audited financial accounts for the past four years to the Electoral Commission," the party said.
It did not give details, but Borg is holding a press conference to mark his first 100 days in office.
The accounts were handed in by a delegation led by PN general secretary Charles Bonello, treasurer Veronica Perici Calascione and CEO Sabine Agius Cabourdin.
Political parties are obliged to submit their accounts to the Electoral Commission in terms of the party funding law.
The Labour Party handed in its 2024 accounts last month. They showed that the party swung from a profit to a seven-figure loss last year, ending 2024 with a deficit of almost €1.1 million compared to a €400,290 surplus the year before.
The PN last published its full financial statements for 2020. It initially attributed the delay to a lack of human resources, later saying its auditor still had to approve the reports.
One of the most significant revelations expected from the publication of the audited accounts is the true scale of the party's debt, which is yet unknown.
Agius Cabourdin was tasked by Borg to lead a financial overhaul and make better use of the party's assets to cut debt.
During a radio interview with Andrew Azzopardi, she acknowledged a "degree of disorganisation" within the party structures and stated that managing the debt requires "structural reforms".