Malta: Government deficit reaches 8% in 2021

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In 2021, the General Government registered a deficit of €1,161.7 million, equivalent to 8.0 per cent of GDP. The General Government debt amounted to €8,284.4 million or 57.0 per cent of GDP, the NSO said today.

The deficit of General Government for 2021 amounted to €1,161.7 million, an improvement of €76.0 million over the deficit recorded in the previous year. The balance is calculated as the difference between total revenue (€5,453.3 million) and expenditure (€6,614.9 million) of General Government.

When comparing 2021 to 2020, total revenue increased by €639.9 million, while total expenditure increased by €563.9 million. The fiscal results for 2021 were again impacted by the COVID-19 pandemic and subsequent government measures to mitigate the economic, social and health risks associated with the pandemic.

When measured as a percentage of GDP, the General Government balance was equivalent to a deficit of 8.0 per cent, an improvement of 1.5 percentage points when compared to the deficit of 9.5 per cent that was registered in 2020.

General Government debt increased by €1,305.9 million over 2020 and stood at €8,284.4 million. The debt-to-GDP ratio for 2021 rose to 57.0 per cent, from 53.4 per cent in 2020.

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