The Government total expenditure rose to €2.7 billion in the first half of 2020, an increase of 16.9 percent compared with the same period last year. Figures by the National Statistics Office show a deficit of €895.6 million in the Consolidated Fund between January and June, up from €156.1 million last year.
While expenditure surged, driven by a €228 million in recurrent expenditure, total revenue in the six months decreased from €2.2 billion in 2019 to €1.8 billion this year. Income Tax fell by €128 million, Value Added Tax by €86 million, and Licenses by €54 million. On the other hand, revenue from Fees of Office and Miscellaneous Receipts increased by €15 million and €32 million, respectively.
Government debt rose by €896 compared with the first half of 2019, reaching €6.377 million at the end of June. This debt was mainly financed from Treasury Bills and Malta Government Stocks, which registered increases of €522 million and €380 million, respectively, from the previous year.
Italian Prime Minister Giorgia Meloni urged Europe to appoint a special envoy to engage Russia in talks amid ongoing efforts to resolve the war in Ukraine. She supported French President...
The ongoing unrest in Iran has triggered swift and diverse responses from leaders and organizations across the globe. As demonstrations continue to unfold throughout the country, the int...
Update
Southern Italy tremor felt in Malta
A magnitude 5.1 tremor off the southern coast of Italy startled numerous individuals in Malta on Saturday morning.
The tremor was init...
Morning Briefing
Ministerial asset declarations move branded a blow to transparencyThe Commissioner for Standards in Public Life has described a Cabinet decision on ministerial asset ...
European Parliament President Roberta Metsola has voiced strong support for protesters in Iran as nationwide demonstrations continue to spread and authorities intensify their crackdown, ...
President of the Republic of Cyprus, Nikos Christodoulides, has set out two key priorities for Cyprus’ upcoming Presidency of the Council of the European Union: strengthening the EU’s st...
World food prices declined for a fourth consecutive month in December, mostly pressured by dairy, meat and vegetable oil prices, marking the lowest average since January 2025, the United...
Euro zone retail sales rose more than expected in November and German industry continued to expand, offering further evidence that the currency bloc ended a turbulent year with stable - ...
Two local analysts have cautioned that any attempt by EU Member States to block or restrict the passporting of crypto-asset service providers (CASPs) authorised under the Markets in...
Marina Grech, Partner, Ganado Advocates
As a Partner within Ganado Advocates’ investment services and funds department, Marina Grech has built a career advising clients across Malta’s...
Focal Logistics Group has been awarded ISO 9001:2015 certification, marking an important milestone following the recent consolidation of the group and reaffirming its commitment to consi...
Malta Public Transport will hold the ninth edition of Tallinja għal L-istrina on Saturday, 20 December 2025, once again supporting L-istrina through its long-standing collaboration with ...
The ongoing unrest in Iran has triggered swift and diverse responses from leaders and organizations across the globe. As demonstrations continue to unfold throughout the country, the int...
On Saturday night, protesters surged back onto the streets of Iran, voicing their discontent with chants directed against the government. In response, Iran's powerful Revolutionary Guard...
Venezuela transported gold worth almost 4.14 billion Swiss francs ($5.20 billion) to Switzerland during the early years of the leadership of ousted President Nicolas Maduro, customs data...
More than a dozen journalists were detained on Monday while covering political events in Venezuela’s capital Caracas, including a pro-government march and the swearing-in of a new legisl...
Russia fired a powerful hypersonic missile at Ukraine near the EU border overnight, in what Kyiv called a new threat to European security that demanded a global response.
Moscow said ...
The UK and France have signed a declaration of intent on deploying troops in Ukraine if a peace deal is made with Russia, UK Prime Minister Sir Keir Starmer has announced.
After talks...
