Apart from Robert Abela's Government failing to provide solutions for the nation's major issues, such as environmental destruction, traffic, and infrastructural problems in education and health, Prime Minister Robert Abela and Finance Minister Clyde Caruana have reached a record for the highest debt our country has ever had in its history, the Nationalist Party said in a statement Monday.

This was confirmed by the National Statistics Office, as new figures published in the past days show that debt has exceeded €10.3 billion. Prime Minister Robert Abela is responsible for nearly half of this entire debt, with little to show for it. Our country had a debt of just over €5 billion when Abela replaced Joseph Muscat, meaning the debt under Abela has more than doubled, the PN said.

Ironically, although in recent months the Government has continued to clash with professionals in various sectors, including educators, denying them deserved and long-promised increases, it has managed to increase its own expenditure by no less than €800 million between January and November 2024.

This record debt is leading to another record, which is hardly a point of pride - the amount of interest the Government must pay from taxpayers' money. In fact, during the first 11 months of the year, the Government spent €235 million in taxpayers' money, or €42 million more than last year, solely on interest on the national debt. This translates to €710,000 every day, the PN said.

The PN recalled that a survey among leading entrepreneurs published recently found that the deterioration in political and regulatory conditions is making our country less attractive for investment.

The alarming increase in debt certainly does not help to offer stability and peace of mind, and this is a factor that also contributes to the fact that, as the survey showed, fewer investors feel comfortable investing further in our country, the PN said.

The statement was signed by Graham Bencini, Shadow Minister for Finance, and Jerome Caruana Cilia, Shadow Minister for the Economy and Enterprise.