Malta: Deficit drops to just over €90m in August

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Government’s Consolidated Fund at the end of August 2023 reported a deficit of €90.2 million by the end of August.

Between January and August 2023, Recurrent Revenue amounted to €4,157.6 million, €533.7 million higher than the figure reported a year earlier. The largest increases were recorded under Income Tax (€333.5 million), Grants (€106.0 million) and Social Security (€68.9 million). On the other hand, the main drops in revenue were reported under Miscellaneous Receipts (€26.8 million) and Central Bank of Malta (€22.2 million).

Total expenditure by the end of August 2023 stood at €4,247.7 million, €229.5 million higher than the previous year. The main developments in the Programmes and Initiatives category involved higher outlays towards Social security benefits (€78.5 million), Energy support measures (€69.9 million) and Medicines and surgical materials (€31.5 million).

Compared to the same period in 2022, there was a decrease in deficit of €304.2 million.

At the end of August 2023, Central Government debt stood at €9,203.1 million, an increase of €644.1 million when compared to 2022. The increase reported under Malta Government Stocks (€1,047.5 million) was the main contributor to the rise in debt. Higher debt was also reported under Euro coins issued in the name of the Treasury (€5.1 million). This increase in debt was partially offset by drops in Treasury Bills (€280.5 million) and the 62+ Malta Government Savings Bond (€116.7 million).

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