Malta's debt was around €9.7 billion at the end of October, Nationalist Party MP and Spokesperson for Finance Jerome Caruana Cillia said, adding that this is an increase of €942.9 million since October 2022.

Caruana Cilia said that the interest costs on this debt at the end of October amounted to €175 million, meaning that there was an increase of €30 million from the same time last year. "This means that the interest rate that our country is paying on this debt is around €4 million every week," he said.

The MP said that the Government had closed 2022 with a deficit of €982.2 million, which is "equivalent to 5.7% of the Gross Domestic Product". He continued that this meant that Malta had recorded the fourth highest deficit amongst all European Union member states, where he explained that the average deficit during 2022 was 3.3%.

Adding to that, he said that this is cause for concern as "according to reports in the media," an agreement will soon be reached to reintroduce certain mechanisms related to fiscal sustainability amongst member states of the EU.

"The Nationalist Party continues to insist and reiterates that the Government should eliminate the corruption tax and ensure that public finances remain sustainable, particularly in light of the increase in the interest rate," Caruana Cilia said.

He continued that the PN insists that "this debt is a burden to our children and our children's children". He remarked that it is a pity that people's money is being "squandered blindly" and that the culture of "I don't care, everyone's is pigging out" is being paid for with the people's money. He concluded that in addition to being ethical and morally just, "Robert Abela and his friends must see to it that what was stolen from our country is returned".