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- The Government shortfall has increased by €43.4 million
- First quarter shortfall increases by €80.4 million
- Government shortfall increases €80.7 million
- Government shortfall up by €76.6 million, Government debt up by €78.0 million
- Capital expenditure declines but Government debt increases
- Government debt increases to €3,289.8 million
- Government finances shortfall increases to Lm82.0 million
- Government, deficit, revenue and expenditure increases
- Government Expenditure on Social Security Benefits up 5.2%
- General Government Account registered a surplus of €84.7 million in 4th quarter last year
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The Government Consolidated Fund shows an increase of €6.7 million in the shortfall between recurrent revenue and total expenditure for the first month of the year in comparison to January 2007, and amounted to €62.7 million. An increase of €36.6 million in total expenditure was partly offset by an increase of €29.9 million in recurrent revenue.
In January the Consolidated Fund recorded an increase of €15.0 million in revenues from Income Taxes, while revenues from Fees of Office and from the Central Bank of Malta increased by €5.9 million and by €4.7 million respectively.
Recurrent expenditure during the first month of the year amounted to €181.8 million, an increase of €29.9 million compared to January 2007. This increase was mainly brought about by increases of €5.4 million and €4.4 million under the Ministry of Finance and under the Ministry for Rural Affairs and the Environment respectively. At the same time, the outlay on Social Security Benefits increased by €11.7 million.
The interest component of the public debt servicing costs for January increased by €1.7 million, and amounted to €14.0 million. During the first month of 2008, Capital Expenditure amounted to €17.2 million, an increase of €5.0 million when compared to the expenditure of €12.1 million for January 2007. During the month under review capital outlay under the Ministry for Tourism and Culture and under the Ministry of Health, the Elderly and Community Care increased by €4.9 million and €2.6 million respectively. On the other hand capital expenditure under the Ministry of Finance declined by €2.8 million.
During the first month of the year Government did not take up any loans and there were no receipts from sale of shares. Government did not make any contribution to the sinking fund and no repayment of loans were effected.
The Central Government debt outstandingat the end of January amounted to €3,259.1 million, an increase of €109.0 million compared to the gross Central Government debt outstanding at the end of January 2007. While long-term borrowing increased by €136.4 million, short-term borrowing and foreign borrowing declined by €43.9 million and €6.6 million respectively. As from January 2008 the euro coins issued in the name of the Treasury are being considered as a currency liability pertaining to the Central Government. Therefore, the amount of €23.3 million is being included with the total stock of debt.
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