At the end of April 2025, Central Government debt stood at €10,835.1 million, an increase of €908.0 million when compared to 2024, the NSO said Friday.
The increase reported under Malta Government Stocks (€842.5 million) was the main contributor to the rise in debt. Higher debt was also reported under Treasury Bills (€92.7 million) and Euro coins issued in the name of the Treasury (€4.2 million).
This increase in debt was partially offset by drops in the 62+ Malta Government Savings Bond (€5.7 million) and Foreign Loans (€0.1 million). Moreover, higher holdings by government funds in Malta Government Stocks resulted in a decrease in debt of €25.6 million.
By the end of April 2025, the Government's Consolidated Fund reported a deficit of €261.4 million, the NSO said.
Between January and April 2025, Recurrent Revenue amounted to €2,220.0 million, €31.9 million lower than the figure reported a year earlier. The largest drops were recorded under Income Tax (€55.7 million), Value Added Tax (€36.1 million) and Grants (€30.7 million). On the other hand, higher revenue was recorded under Social Security (€61.3 million), Customs and Excise Duties (€16.0 million) and Licences, Taxes and Fines (€13.2 million).
Total expenditure from January to April 2025 stood at €2,481.4 million, €252.4 million higher than the previous year.
During the reference period, Recurrent Expenditure totalled €2,219.2 million, an increase of €240.1 million compared to the €1,979.1 million reported the year prior. The main contributor to this increase was an €88.5 million rise reported under Programmes and Initiatives. Further increases were also recorded under Personal Emoluments (€67.2 million), Contributions to Government Entities (€65.8 million) and Operational and Maintenance Expenses (€18.5 million).
The main developments in the Programmes and Initiatives category involved higher outlays towards Social security benefits (€69.0 million), Church schools (€14.9 million) and Grants for electric vehicles (€5.7 million).
The interest component of the public debt servicing costs totalled €94.2 million, an increase of €11.3 million when compared to the previous year.
By the end of April 2025, Government's capital spending amounted to €167.9 million, €1.0 million higher than the comparative period in 2024. Increased spending was registered under Investment incentives (€15.1 million), the RePowerEU initiative (€12.3 million) and the Development of a second electricity interconnector (€8.6 million). By comparison, lower expenditure went towards Road construction and improvement (€22.2 million), Enhancing uptake of electric vehicles (€11.3 million) and Property, plant and equipment (€6.2 million).
The difference between total revenue and expenditure resulted in a deficit of €261.4 million being reported in the Government's Consolidated Fund at the end of April 2025, in comparison to a €22.9 million surplus registered by the close of April 2024. This difference mirrors a decline in total Recurrent Revenue (€31.9 million), combined with a rise in total expenditure, which consists of Recurrent Expenditure (€240.1 million), Interest (€11.3 million) and Capital Expenditure (€1.0 million).