The Malta Independent 30 May 2024, Thursday
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Finance figures reflect budget, ministry insists

Malta Independent Saturday, 28 June 2014, 11:32 Last update: about 11 years ago

The Finance Ministry expressed its satisfaction with the recently-released government finance figures for the first five months of the year, which showed that expenditure was “just” €4.5 million more than budgeted.

In a statement issued this morning, the ministry said that the figures reflected the 2014 Budget, with government expenditure increasing as planned but with revenue from direct and indirect taxation also going up.

It noted that the increase in expenditure on health, education as well as salaries had been planned, as shown in the budget.

Increases in health expenditure, the ministry said, are addressing an increase in surgeries and other medical interventions to cut down on waiting lists, while investment in education is increasing to reduce illiteracy and the proportion of early school-leavers, as well as increase scholarships and assistants to students with special needs.

The increase in salaries, it added, reflected the collective agreement.

The ministry also noted that revenue from direct taxes reflected the fact that 3,321 more people joined the workforce in the first quarter of 2014.

The increase in indirect taxes, it added, proved that the reduction in utility bills left more money in people’s pockets, which left them free to spend more and boost trade.

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