Finance Minister Edward Scicluna presenting the budget last Monday.

For the first time in 16 years, a surplus in public finances has been registered in the second quarter of the year.

According to Eurostat, the government had a surplus of €11 million in the second quarter, compared to a €38 million deficit in the same period last year. In the last year of the previous administration, the deficit was €88 million, the government said in a statement.

The deficit was reduced as a result in a cut in government spending of 3.2 per cent compared to the previous year while revenue was up 2.2 per cent.

Despite the cuts in income tax, the government netted €140 million more through this tax than the previous administration.

It said: "Such growth is a certificate of the strong economic progress registered throughout this administration."

Strengthening government finances would mean a reduction in the national debt, as indicated by the credit rating agencies.