The surplus in the general government sector for the fourth quarter of 2006 amounted to Lm11.8 million, compared to a surplus of Lm34.8 million recorded in the fourth quarter of 2005, the National Statistics Office reported yesterday.

While total expenditure increased by Lm30.1 million (mainly due to higher outlays on gross capital formation and on intermediate consumption), total revenue increased by Lm7.1 million.

The aggregated deficit for the four quarters of 2006 is estimated at Lm53.6 million, compared to a deficit of Lm61.8 million for 2005.

When compared to December 2005, total general government debt outstanding at the end of 2006 contracted by Lm45.2 million to Lm1,395.2 million. Malta government stocks (classified as long-term securities other than shares) accounted for Lm1,123.7 million, or 80.5 per cent of the total outstanding debt.