The Nationalist government had failed in the financial targets it had established and in the revised estimates for the budget 2009, Labour MP Charles Mangion said.

In a statement, he said that the latest figures published by the National Statistics Office confirmed that the government was continuously playing with figures to give the impression that the country's finances were strong. However, the published figures confirmed what the Central Bank governor said in his annual report for last year that the country's debt and deficit were keeping the government from implementing a package of economic stimulus to promote economic expansion.

In the revised estimates the government had projected a revised deficit of 200 million euros but this ended up being 233 million euros. The government's revised income had to be 2.38 billion euros but the government's ordinary income was 82 million euros less than projected in the revised estimates.

The government, Dr Mangion said, had projected a capital expenditure of 275 million euros but this was 53 million euros less than originally projected.

Capital expenditure for 2008 was of 222 million euros - 53 million euros less than the revised estimate.

The government's drop in capital expenditure confirmed the irresponsibility of the Nationalist government in the current economic situation.

The country, he said, was in recession and needed productive investment. But the Nationalist government was doing the opposite of what responsible European governments were doing.

The government's productive expenditure for 2008 was less than in 2006 when the economic situation was not so bad. The government's intervention was of greater need at the moment, Dr Mangion stressed.

He said that moreover, although the capital expendutre was less than projected, the national debt still increased by 227 million euros when compared to 2007. Interest which had to be paid each year also increased going up to 189 million euros for 2008.