All the reviews of Malta's economy by the various ratings agencies and also by the European Commission have generally praised Malta's economic record, but they also warned against a runaway expenditure.

Now it seems these warnings have not been heeded and the supplementary estimates just approved by the House of Representatives speak of cost over-runs that amount to €250 million, not a small sum.

In today's issue, the Malta Fiscal Advisory Council warns that that the expenditure rule should be respected in 2016, as annual expenditure growth, after adjusting for certain components, is expected to be within the prescribed limit.

However, there is a risk that such limit could be exceeded slightly in 2017.