The shortfall between the government's recurrent revenue and total expenditure for the first four months this year amounted to €235.8 million, up by €27.1 million over the same period last year, the National Statistics Office said.

It said that this was brought about by an increase in total expenditure of €37.6 million which outweighed the increase in recurrent revenue of €10.5 million.

During the period under review, recurrent revenue increased by €10.5 million.

The main contributors to this increase were social security contributions (+€20.3 million), Central Bank of Malta (+€12.9 million) and income tax (+€10.8 million).

Conversely, falls were registered mainly in customs and excise duties (-€16.5 million), dividends on investment (-€7.9 million), value added tax (-€5.8 million), and public corporations (-€4.4 million).

Recurrent expenditure amounted to €747.6 million, an increase of €46.2 million over the comparative period last year.

The increase was mainly brought about by increases in expenditure on social security benefits (+€18.4 million), the shipyards’ voluntary retirement schemes (+€18.6 million) and medicines and surgical materials (+€10.8 million).

The interest component of the public debt servicing costs for the period under review increased by €4.1 million and amounted to €72.5 million.

The government’s outlay on its capital programme for the first four months of this year amounted to €80.6 million, down from €93.3 million last year.

The main contributor to the fall in capital outlay during the period analysed is the expenditure on Mater Dei Hospital in 2008 that was not incurred this year (-€9.3 million).

The government's debt outstanding at the end of April amounted to €3,755 million, an increase of €445.5 million compared to April last year.

Short and long-term borrowing increased by €234.2 million and €209 million respectively, while foreign borrowing declined by €6.3 million.

The euro coins issued in the name of the Maltese Treasury, considered as a currency liability pertaining to the central government, amounted to €33.4 million, an increase of €8.9 million over the euro coin stock as at end April last year.