The deficit in the first three months this year was €23.5 million more than in the same period last year while the debt at the end of March advanced by €333.7 million over the comparable period last year.

In its quarterly accounts for general Government, the National Statistics Office said the deficit in the first three months this year was €102.7 million, against €79.2 million in the comparable period of 2012.

Total government revenue in the period stood at €667.6 million, an increase of €17.2 million. This was mainly triggered by higher proceeds from ‘current taxes on income and wealth’ of €28.8 million. The major decline, by €16.4 million, was recorded in ‘taxes on production and imports’.

Total expenditure in the first quarter amounted to €770.3 million.

Currency and deposits’ registered an increase of €112.1 million and ‘other accounts receivable’ went up by €82 million. Long-term loans and shares and other equity added €7.1 million and €2.3 million respectively.

With regard to financial transactions in liabilities, increases were recorded in both long and short term securities by €165.8 million and €133.7 million, respectively.

Additionally, long-term loans went up by €6.2 million while short-term loans declined by €1.4 million.

Total general Government debt at the end of March advanced by €333.7 million over the comparable period last year.

General Government debt amounted to €5,171.4 million, of which €5,167 million relate to central Government.

The increase in central Government debt was underpinned by higher long-term securities (Malta Government Stocks) of €210.3 million and an increase in long-term loans of €77.1 million, mainly due to the EFSF rerouted debt.

Short-term securities went up by €72.2 million whereas short-term loans declined by €31.9 million.