The government’s consolidated fund registered a deficit of €55 million by the end of January.

The National Statistics Office said recurrent revenue rose by €19.4 million and amounted to €302.4 million. This represented a 6.8%t increase from the €283 million reported in revenue during the same month in 2018.

The increase was primarily the result of a €13.7 million rise in social security.
Conversely, decreases were mainly recorded in customs and excise duties (€10 million), followed by grants (€7.5 million).

Total expenditure stood at €357.4 million, showcasing a 20.7% increase from the corresponding month in 2018.

Recurrent expenditure stood at €319.2 million, €50.7 million higher than the corresponding amount reported in January 2018. The main contributor to this increase was a €37.1 million rise reported under programmes and initiatives.

The interest component of the public debt servicing costs amounted to €12.9 million, a €5.4 million drop from the €18.3 million reported in 2018.

Government’s capital expenditure registered an increase of €15.9 million from the same period last year and amounted to €25.3 million. The rise in outlay was due to added expenditure reported on investment incentives (€5 million).

Conversely, drops in capital expenditure were registered under improvements to buildings and equipment (€1.1 million) and ICT (€1 million).

Central government debt stood at €5,414.7 million, a €28.4 million rise from the corresponding month last year. This was primarily the result of higher Treasury Bills (€195 million) and the 62+ Malta Government Savings Bond (€92.9 million).

Euro coins issued in the name of the Treasury also rose by €6.1 million. On the other hand, Malta Government Stocks and Foreign Loans decreased by €240.7 million and €7.9 million respectively. Higher holdings by government funds in Malta Government Stocks resulted in a decrease in debt of €17 million.

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