The Nationalist Party organsied a press conference today with the Shadow Minister of Finance, Graham Bencini and fellow MP, Jerome Caruana Cilia, highlighting the rising public debt and increasing government expenditure.
The PN MPs also appealed for the government to be fiscally responsible. They also noted that the government is paying significant compensation payment to landlords who have had their properties occupied by the Labour Party. These payments are being made following Court decisions in which the landlords have to fight for compensation or the right to their property.
The central government’s debt has increased by up to €10.88 billion in May, increasing even further from its €10.83 billion figure of the previous month. Government revenue is increasing but government expenditure is increasing at a higher pace.
Despite the warnings, the Nationalist Party still isn’t proposing any alternative to the current fiscal and budgetary policies. Although ending corruption and waste would give a much needed relief to public finances, this will not necessarily change the trend of increasing public expenditure. Energy subsidies, which are still ongoing this year are bearing a significant impact on public finances but it is also unclear what the policies of the Nationalist Party are about energy and energy subsidies.
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