At the end of February 2026, Central Government debt stood at €11,444.6 million, an increase of €509.3 million when compared to 2025.
The increase reported under Malta Government Stocks (€443.1 million) was the main contributor to the rise in debt. Higher debt was also reported under Treasury Bills (€120.1 million) and Euro coins issued in the name of the Treasury (€5.1 million).
This increase in debt was partially offset by a drop in the 62+ Malta Government Savings Bond (€38.1 million) and Foreign Loans (€2.3 million). Moreover, higher holdings by government funds in Malta Government Stocks resulted in a decrease in debt of €18.6 million.
By the end of February 2026, the Government's Consolidated Fund reported a surplus of €229.6 million, the NSO said.
Between January and February 2026, Recurrent Revenue amounted to €1,561.6 million, €482.7 million higher than the figure reported a year earlier. The largest increases were recorded under Income Tax (€306.5 million), Value Added Tax (€94.3 million) and Grants (€72.3 million). On the other hand, lower revenue was recorded under Miscellaneous Receipts (€18.7 million), Reimbursements (€2.4 million) and Sales - Others (€2.0 million).
Total expenditure by the close of February 2026 stood at €1,332.0 million, €158.1 million higher than the previous year.
During the reference period, Recurrent Expenditure totalled €1,207.8 million, an increase of €119.9 million compared to the €1,087.9 million reported the year prior. The main contributor to this increase was a €75.6 million rise reported under Programmes and Initiatives. Further increases were also recorded under Personal Emoluments (€22.2 million), Operational and Maintenance Expenses (€18.1 million), and Contributions to Government Entities (€4.0 million).
The main developments in the Programmes and Initiatives category involved higher outlays towards Social security benefits (€32.5 million), Medicines and surgical materials (€15.8 million) and EU own resources (€12.1 million).
The interest component of the public debt servicing costs totalled €51.3 million, an increase of €3.9 million when compared to the previous year.
By the end of February 2026, Government's capital spending amounted to €72.9 million, €34.3 million higher than the comparative period in 2025. Higher outlay was, among others, reported towards Road construction and improvements (€9.6 million), Mobile digitisation of the urban ecology (€3.7 million) and Property, plant and equipment (€3.4 million).
The difference between total revenue and expenditure resulted in a surplus of €229.6 million being reported in the Government's Consolidated Fund at the end of February 2026, in comparison to the €95.1 million deficit registered the year prior. This difference mirrors an increase in total Recurrent Revenue (€482.7 million), coupled with a lower rise in total expenditure, which consists of Recurrent Expenditure (€119.9 million), Interest (€3.9 million) and Capital Expenditure (€34.3 million).