While offering no solutions to Malta's and Gozo's major problems including environmental destruction, traffic congestion, the rising cost of living, infrastructure, education and health, Prime Minister Robert Abela and Finance Minister Clyde Caruana have succeeded in breaking the record for the highest amount of debt Malta has ever seen in its history, the Nationalist Party said Monday.

This was confirmed by the National Statistics Office, as figures published today show that the country's debt has surpassed €10.9 billion. Prime Minister Robert Abela is responsible for half of this total debt, with little to nothing to show for it. When Abela succeeded Joseph Muscat, Malta's debt stood at just over €5 billion.

This means that in five years, Robert Abela has managed to more than double the country's debt. In the past year alone, Robert Abela racked up €859 million in debt; which is €2.3 million per day. Robert Abela has become synonymous with debt, and there is nothing to show for all of it, the PN said.

The government has continued to squander taxpayers' money, and in February alone spent €89 million more than it did in February of last year. Of all this spending, very little, if anything, reached the people, while the inner circle continued to fatten up their pockets, as even Government insiders have admitted. This reckless spending has even led to a deficit of €95 million in the first two months of the year.

This record level of debt has led to another record, the amount being paid in interest on this debt from taxpayers' money. In fact, every day, the Maltese and Gozitans are now paying around €710,000 in interest alone.

The PN said that a survey among leading entrepreneurs found that the deteriorating political and regulatory situation is making Malta a less attractive destination for investment.

The Government's policy of uncontrolled borrowing is certainly not helping to offer stability or peace of mind to potential investors, nor is it reassuring the Maltese and Gozitan people about the future of our country, the PN said.