Government finances shortfall increases to Lm82.0 million
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- Capital expenditure declines but Government debt increases
- Government shortfall increases €80.7 million
- Government shortfall increases by €74.6 million, outstanding debt to €3,486.9 million
- Government shortfall increases by €80.1 million
- Government shortfall rises by €96.2 million to €260.4 million
- Government shortfall up by €76.6 million, Government debt up by €78.0 million
- First quarter shortfall increases by €80.4 million
- The Government shortfall has increased by €43.4 million
- Shortfall in government finances increases by €6.7 million
- Government debt increases to €3,289.8 million
- Government, deficit, revenue and expenditure increases
- General Government Account registered a surplus of €84.7 million in 4th quarter last year
- The visible trade gap rises by Lm22.1 million in November
- Expenditure of general government sector by function 2002-6
- Government Deficit for first quarter up by €44.7 million to €162.5 million compared to 2007
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Figures released by the Treasury reveal that the shortfall between recurrent revenue and total expenditure for the first eleven months of 2007 amounts to Lm82.0 million (€190.9 million). Data from the Government Consolidated Fund indicates that the shortfall between recurrent revenue and total expenditure for the first eleven months of the year compared to the same period last year increased by Lm2.0 million and amounted to Lm82.0 million. The increase in total expenditure was Lm17.5 million while the increase in recurrent revenue was Lm15.5 million.
When compared to the same period in 2006, revenue from Income Tax rose by Lm22.1 million to Lm214.6 million. Revenue from Social Security Contributions and from Value Added Tax went up by Lm4.0 million and by Lm4.9 million respectively, while revenues from Customs and Excise duties yielded an additional Lm7.9 million. Concurrently, revenue from Grants declined by Lm34.6 million.
Recurrent expenditure during the first eleven months of this year amountedto Lm719.9 million, an increase of Lm30.6 million over the same period last year. This was mainly brought about by increases of Lm10.5 million and Lm8.8 million respectively on Social Security Benefits and on outlays under the Ministry for Investment, Industry and Information Technology.
At Lm73.4 million, interest payments on Government borrowing remained practically unchanged.
Capital expenditure for the January to November period amounted to Lm89.1 million, a decline of Lm13.1 million when compared to the first eleven months of 2006. Lower capital outlays by the Ministry of Finance (-Lm14.8 million) and by the Ministry for Investment, Industry and Information Technology (-Lm2.4 million) were in part offset by higher expenditures under the Ministry for Gozo (+Lm2.1 million), and under the Ministry for Rural Affairs and the Environment (+Lm1.5 million).
Compared to November 2006, Central Government debt at the end of November this year went up by Lm54.8 million, amounting to Lm1,423.2 million. As shown in Table 3, during the past 12 months Government Stock increased by Lm58.8 million, while Treasury Bills and foreign borrowing declined by Lm0.7 million and by Lm2.8 million respectively
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