Malta registered the fifth biggest drop in debt among EU member states, confirming it has the right strategies, the government said this afternoon.

According to Eurostat, the country's debt for the third quarter of 2015 was down to 66.3 per cent of GDP, a reduction of 4.5 per cent compared to the previous year.

This means Malta has registered its lowest figure of debt since June 2009.

In March 2013, the debt figure had climbed to 70.8 per cent of GDP, an increase of 10.4 per cent during the same legislature, the government said in a statement. 

The Eurostat figures reflect the positive reports issued recently by the International Monetary Fund and the credit rating agencies.

"The government is determined to keep improving the financial strength of the country and to continue investing in the economy. This is crucial to continue improving services like health and pensions."

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