According to latest NSO figures, the government has failed to collect as much tax revenue as it did during the same period last year, while its expenditure has continued to rise. From the period of January to the end of April of this year, the government has collected up to €2.22 billion in revenue, €31 million less than the same period of last year. The reduction mainly came from income tax and VAT income. The consolidated fund registered a government deficit of €261.4 million.
The total expenditure increased significantly by €252.4 million compared to the same period last year and totaled up to at €2.48 billion. Expenditure mainly increased due to recurrent expenditure with the highest increases being recorded in social security benefits (€69.0 million), Church schools (€14.9 million) and grants for electric vehicles (€5.7 million). Capital spending totaled up to €167.9 million which was €1 million higher than the same period of last year.
Government’s costs on interest was €94.2 million, an increase of €11.3 million compared to the same period last year.
At the end of April 2025, the central government public debt stood at €10.83 billion, and €908.0 million higher when compared to 2024. Most of the government debt is issued in bonds sold to local buyers.
As the table below shows (NSO), the government has been struggling to balance its budget by reducing its deficit following massive spikes of expenditure as a reaction to the Covid crisis.
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