Tag: revenue
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Government’s revenue surges higher than expenditure this year
According to the latest government’s finance data, government revenue continued to surge up to the months of April, outpacing expenditure and narrowing the Consolidated Fund deficit to €65.5 million by the end of the first four months of the year. This is significantly less than the deficit recorded at the end of April last year…
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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…
