Public expenditure figures out today should put people’s minds at rest that the economy is still doing very well, Edward Scicluna said.

The Finance Minister noted that revenue from income tax, national insurance and VAT increased in the first four months of the year, signs of a thriving economy.

He was referring to National Statistics Office figures showing that public finances registered a surplus of €21 million between January and April. During the same period last year, figures showed a deficit of €77 million.

The consolidated fund ended last year with a surplus of €9 million, the first time in 35 years to do so. Government’s extended accounts, worked on an accrued basis, which is the measure that matters for the EU, showed that the country had a surplus of €101 million last year.

READ: Surplus grows to €21 million

The NSO said income tax revenue increased by €22 million, VAT by €20 million and NI by €16 million.

Prof. Scicluna said the figures for the first four months of the year were positive and indicative of an economy that continued performing.

“People can put their mind at rest because at the end of the day that is what matters,” he added.

Prof. Scicluna said the Nationalist Party’s proposals would punch a black hole in public finances and the country would return to the time of excessive deficits.

“Families are not expecting us to stop half way,” he said, calling on the electorate to show its support to the government by giving it a second mandate.

He was speaking at a press conference at Labour headquarters flanked by PL Gozo candidate Franco Mercieca.

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