Malta's debt figures were reportedly overstated by around €600 million before being revised by the European Central Bank, with the correction coming after a political clash between Labour and the Nationalist Party over the state of the country's finances.

The ECB revised its figures, after saying that the provisional figures for Malta's total debt securities issued by the general government as at end-April 2026 were overstated.

On Thursday afternoon, it said that the actual figures should amount to €11.353 billion, rather than the €11.9 billion it had initially listed when publishing the figures earlier this week.

The PN had used the earlier-cited figures to highlight that the country's debt burden has remained alarmingly high, while government argued that Malta's fiscal position remains stable and within European thresholds.

The PN has repeatedly argued that the government's borrowing levels continue to rise sharply under Prime Minister Robert Abela, warning that debt could surpass €14 billion within the coming years if current trends persist.

Government, namely Finance Minister Clyde Caruana, however, has maintained that Malta's debt-to-GDP ratio remains below the European Union's 60% threshold and has pointed to continued economic growth and revenue increases as evidence that the country's finances remain sustainable.

The PN on Thursday had said that over the past five years, Robert Abela borrowed more than one billion euro every year, and that in April 2026 alone, in just one month, he borrowed one billion euro, the PN said.

The PN said that the Labour Government tried to hide all this by ordering the National Statistics Office, which is supposed to be independent, not to publish this fact before the election, under the pretence of observing the day of reflection.

The revised figures suggest that Malta's non-consolidated debt has risen by €377 million between March and April, rather than the almost €1 billion initially listed.