Malta is paying €4 million a week in interests on the accumulated debt which has reached €9.4 billion in July, the Nationalist Party said Thursday.

In a statement signed by finance spokesman Jerome Caruana Cilia, the PN said that the NSO statistics show that debt has increased by €838.4 million since July 2022.

The PN said that the government should seek to eliminate “tax on corruption” and bring back the country’s financial situation on a sustainable level.

Until the end of 2019, the country’s debt was €5.7 billion, but since then it has risen by €3.7 billion to €9.4 billion.

This is worrying also taking into consideration that an agreement will soon be reached for European member states to again start following fiscal sustainability mechanisms, which were suspended during the Covid-19 pandemic.

The PN said that Malta’s debt is also a result of a spendthrift government which allowed the culture of “everyone pigs out”, with taxpayers’ money being spent wildly.