Government guarantees were €201 million higher in 2016 than in 2013, and now represent 14.1 per cent of GDP.

The guarantees oblige the government to make good should the borrower default.

In 2016, over €1.1 billion of the €1.4 billion in government guarantees were to non-financial corporations (2013:€946 million), with €282 million to financial corporations like banks (2013: €235 million).

The National Statistics Office today reported that general government debt was €5.8 billion, up by €144 million since 2015, representing 58.3 per cent of GDP.

It also analysed the financing of the debt and picked up various trends, such as the fact that the maturity for outstanding Malta Government Stocks and government debt has tended to stretch out and stood at seven years 11 months in 2013, but in 2016 was nine years and eight months.

Financial corporations still hold the majority of government debt: 61.8 per cent.

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