Malta: Debt levels reach €8.73bn – NSO

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General Government debt has reached €8.73 billion, or 53.2 per cent of Gross Domestic Product (GDP), NSO data shows. In the third quarter of 2022, the government has also recorded a deficit of €127.0 million.

During the period July to September 2022, total revenue stood at €1,474.5 million, an increase of €151.1 million when compared to the corresponding quarter in 2021.

Almost all components of General Government revenue recorded an increase, with Current taxes on income and wealth registering an increase of €68.6 million over the same period in 2021. This was followed by Net social contributions receivable (€45.0 million), Taxes on production and imports (€44.5 million), Property income receivable (€1.3 million), Market output (€1.1 million) and Current transfers receivable (€0.3 million). In contrast, Capital transfers receivable decreased by €9.7 million.

Total expenditure in the third quarter of 2022 amounted to €1,601.5 million, a decrease of €18.6 million over the corresponding quarter in 2021. The largest decrease was recorded in Current transfers payable (€81.6 million),
followed by Social benefits and social transfers in kind (€0.8 million) and Current taxes on income and wealth (€0.4
million). These decreases were partially offset by increases in Subsidies payable (€44.2 million), Compensation
of employees (€7.6 million), Gross capital formation (€4.7 million), Property income payable (€3.8 million), Capital
transfers payable (€3.3 million) and Intermediate consumption (€0.7 million).

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