The Nationalist Party on Friday raised alarm over Malta’s growing financial imbalance and record levels of government debt during a press conference held by PN Members of Parliament Graham Bencini and Jerome Caruana Cilia.
The two MPs accused Prime Minister Robert Abela and Finance Minister Clyde Caruana of reckless financial management and wasting taxpayer money, citing data from the National Statistics Office (NSO) to back up their claims.
Bencini opened the conference by highlighting that Malta’s national debt has now reached nearly €11 billion – the highest in the country’s history. “Five years ago, when Robert Abela became Prime Minister, national debt was around €5 billion. In just five years, it has more than doubled,” he said.
Quoting NSO data from January to May 2025, Bencini noted that interest payments on the debt alone amounted to €118 million in the first five months of the year – a year-on year increase of €15 million. In 2023, the annual interest stood at €214 million, which rose to €263 million in 2024.
For 2025, interest payments are projected to reach €312 million – equivalent to around €855,000 in interest every single day. In 2026, the figure is expected to rise to €345 million, which translates to €945,000 per day.
“The real issue,” Bencini said, “is that instead of using money to invest in the public – in school, hospitals, and transportation, we’re using it to pay interest on debt that keeps growing.”
Between January and May 2025, government revenue totalled €3.1 billion, while recurrent expenditure reached €3.256 billion, leaving a deficit of €146 million – up €139 million from the same period in the previous year.
The PN MP criticised the government's tendency to exceed project budgets. He mentioned the Ta’ Qali National Park project, originally estimated at €20 million but which ended up costing €80 million, and the Gozo Sports Complex, which rose from €9 million to €20 million. “This pattern of overspending is contributing to an unsustainable financial situation,” he said.
Caruana Cilia added that government debt rose by €867 million in just one year – an average of €4.2 million in new debt every single day. “Robert Abela and Clyde Caruana are breaking debt records year after year. And Malta has now been placed under the EU’s Excessive Deficit Procedure,” he said.
Caruana Cilia also criticised a lack of transparency in government spending, noting that over 640 parliamentary questions were submitted regarding direct orders, yet ministers failed to provide any detailed replies. “These are the people’s taxes – citizens have a right to know where their money is going.”
He also referred to a recent court ruling which found a Labour Party official guilty of using private property for a party club, leading to a €58,000 compensation payout from public funds. “Once again, it’s the taxpayer who pays,” Caruana Cilia said
Both MPs called on the government to act responsibly and end what they described as a culture of “squandering public funds,” warning that future generations would be left to pay the price.