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Malta's Public Debt Goes Up But So Does Revenue

MaltaMedia

21 August 2000

This article is reproduced by kind permission of MaltaMedia at www.maltamedia.com

Provisional statistics supplied by the Central Bank of Malta reveal that government debt outstanding at the end of July 2000 amounted to Lm896.6 million (US$1,972.5 million), up by Lm79.3 million (US$174.6 million) from Lm817.3 million (US$1,798.06 million) outstanding at the end of July last year.

At the end of July, the government’s debt was Lm56.7 million (US$124.74 million) more when compared with the end of last year.

In the period under review, Ordinary Revenue increased by Lm27.4 million (US$60.28 million) or 8.5%. There was an increase in revenue from income tax, VAT, and social security contributions.

Recurrent Expenditure, excluding Public Debt Servicing, during the first seven months of the year amounted to Lm321.3 million (US$706.86 million), an increase of Lm18.9 million (US$41.58 million) or 6.2% over the same period last year.

During the period under review, Capital Expenditure was down by Lm2.1 million (US$4.62 million) or 4.4%, and amounted to Lm45.5 million (US$100.1 million). (MM) [Sat 19/8/00 - 15:09:20 CET]

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