Malta’s fiscal surplus of €44.2 million recorded for the first quarter of 2017 has now been termed by Eurostat as being the highest ratio within the EU, the Department of Information said.

At 3.5 per cent of GDP, Malta has exceeded the surplus reported by Germany and the Netherlands, both at 1.5 per cent.

The surplus for the first quarter accelerated the decline in the debt ratio. Indeed, Malta recorded a decrease of 2.9 percentage points and was ranked the country with the fourth highest decrease in its debt-to-GDP ratio. As a result, in the last two quarters Malta’s debt fell below the 60 per cent threshold.

Minister for Finance Prof. Edward Scicluna stated: “The results confirm the Government’s resolve to continue operating within a positive fiscal balance for the foreseeable future.”