The government this afternoon welcomed figures which showed the deficit in the consolidated fund at its lowest in 15 years.

It said the deficit in the first five months of this year had narrowed by €120 million, or half what it was under the former government.

It was also the lowest in 15 years.

Government revenue between January and May rose by ’€186 million - 16%. It said this growth was boosted by €73 million in additional EU funds after government efforts to increased the absorption rate of such funds.

Recurrent expenditure up to May was up 3% while under the former government the increase was 10%, the government said. Such figures it said, belied claims that government spending was not being reined in.

Capital expenditure up to May was up by €29 million, or 20% over last year. 

Independent journalism costs money. Support Times of Malta for the price of a coffee.

Support Us