The shortfall between recurrent revenue and total expenditure of the central government for the first 11 months of the year amounted to e271.0 million, up by e80 million when compared to the same period last year, the National Statistics Office said.

According to data obtained from the government Consolidated Fund an increase of e159.4 million in total expenditure was partly offset by an increase of e79.3 million in recurrent revenue.

During the first 11 months this year, the Consolidated Fund recorded increases in revenue of e79.5 million and of e35.4 million from Taxes on Income, and from Value Added Tax respectively. Social Security Contributions added e22.3 million during the period under review. At the same time, revenue from Grants declined by e25.7 million while revenue classified under Miscellaneous Receipts declined by e12.7 million.

Recurrent expenditure amounted to e1,839.3 million, an increase of e162.4 million compared to the first 11 months last year. Significant increases in recurrent expenditure were recorded under Social Security Benefits (+e47.9 million), under the Ministry of Health, the Elderly and Community Care (+e28.5 million), and under the Ministry for Investment, Industry and Information Technology (+e25.3 million).

During the period under review the interest component of the public debt servicing costs amounted to e181.1 million, a comparative increase of e10.1 million over last year.

The capital programme for the first 11 months this year declined by e13.1 million and amounted to e194.5 million. During this period capital expenditure under the Ministry of Health, the Elderly and Community Care increased by e12.2 million, while capital expenditure under the Ministry for Rural Affairs and the Environment increased by e10.2 million. On the other hand, lower expenditure in respect of construction works and equipment under the Mater Dei Hospital project brought about a decline of e39.1 million in the capital outlay of the Ministry of Finance. Expenditure on capital projects by the Ministry for Gozo also declined by e7.1 million.

Loans taken up by the government during the first 11 months of the year amounted to e285.7 million, of which e93.2 million were on account of matured stock.

The central government debt outstanding at the end of November amounted to e3,520.8 million, an increase of e205.6 million compared to the gross central government debt outstanding at the end of November last year.

Long-term borrowing increased by e201.1 million, while short-term and foreign borrowing declined by e20.5 million and by e5.3 million respectively.

At the end of November, the euro coins issued in the name of the Maltese Treasury, which are considered as a currency liability pertaining to the central government, amounted to e30.3 million.