Tag: Expenditure
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Publication of government finance data to be postponed over “Reflection Day”
The government’s finance data, which includes estimates of expenditure and revenue for January to April, and was originally scheduled to be published on 29 May, has been postponed, with “Reflection Day” cited as the reason. The decision is highly unusual, since official statistics are supposed to be politically neutral and their publication should not be…
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Government finances improve as revenue surge masks rising debt
According to the latest data released by the NSO Malta’s public finances showed a sharp improvement in the first two months of 2026, with the government reporting a €229.6 million surplus in the Consolidated Fund by the end of February. The turnaround is significant when compared to the same period last year, which had registered a…
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Stubb counters Sanchez on NATO defence spending: Spanish Premier against newly announced European nuclear deterrent
In a discussion held today at the Munich Security Conference, Finnish President Alexander Stubb chided the Spanish Prime Minister over his position on defence spending. President Stubb countered the Spanish Prime Minister’s explanation for refusing to raise his country’s defence, even implying that Spain is a defence consumer rather than a defence provider. Prime Minister…
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Government finances for 2025 break the successful trend of balancing the budget
The government’s finances for 2025 have seen a break from the fiscal responsible trend that safeguarded public finances in 2023 and 2024 following the massive splurge in energy and other subsidies. According to the latest statistics by the NSO, the government’s final deficit for this year until October was of €373.9 million. Compared to the…
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Finance Minister loses winning streak as tax collection comes lower compared to last year in Q2
At the same time that the Finance Minister was hailing increasing tax collection efforts by the government, the National statistics Office published statistics showing that the government has collected less revenues in the second quarter of this year compared to last year. This is the first time after a series of quarters in which tax…
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5 years after taking office: Abela increases government revenue by 58.05% but expenditure increases by 67.07%
According to the government’s latest financial reports on 2024, government revenue and expenditure were 58.05% and 67.07% higher respectively from 2019 figures. Malta’s average annual GDP growth rate from 2020 to 2024 is estimated at around 1.2% to 1.5% according to official figures. Government finances took a hit during the Covid pandemic and subsequently with…
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Government collects more taxes in 2024, but expenditure is also also up
The government has collected more taxes in 2024 compared to 2023 mainly in income tax and VAT. Income tax collected in 2023 amounted up to €2.45 billion with income tax collected in 2024 up to €2.85 billion as of November. VAT collected in 2023 amount to €1.28 billion and rose in 2024 up to €1.77…
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Why Russia is a Venezuela in the making
The problem with an economy which is mostly dependent on its commodity exports is that it depends on commodity booms for its sustained economic growth. Russia is an economy which depends on commodity exports which are mostly gas and oil, and it doesn’t export any important manufactured products, except for rockets, although even those will…
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It’s not the war: it’s fraud
After going out on an extensive spending spree, burning hundreds of millions of Euros on stupid projects, to appease contractors and friends of friends, and more millions to win the elections, the government has announced it will be trimming its expenditure to offset expenditure on fuel and energy subsidies. Mind you, Enemalta is bankrupt because…
