The government deficit last year is estimated at €226.3 million, or 3.6 per cent of GDP, the National Statistics Office said.

The NSO said that in 2010, the government net borrowing (or deficit) was estimated at €226.3 million, up from a deficit of €217 million for 2009.

This is equivalent to 3.6 per cent of GDP, down from 3.7 per cent for 2009.

At the end of last year, the government's nominal gross consolidated debt amounted to €4,248.3 million, or 68 per cent of GDP, up from €3,954 million, or 67.6 per cent for 2009.

The balance of the government's consolidated fund, amounting to -€279.2 million was adjusted to arrive at the government sector's deficit for 2010.

Positive adjustments included the 'other accounts receivable and payable' (+€57.6 million) and the 'non-financial transactions in the treasury clearance fund' (+€35.1 million).

The main negative adjustments were the time-adjusted cash transactions (-€32 million) and the deficit of the extra budgetary units (-€12.5 million).

On March 30, Malta duly submitted its report on government deficit and debt levels for 2007-2011, in compliance with the Code of Best Practice adopted by the Ecofin Council.

Compared to the previous submission of September 30, the following updates were made:

-The government's deficit for 2009 remained practically unchanged. However, revisions were recorded in EBUs (+€1.2 million), in the 'other accounts receivable and payable' (-€1.1 million) and local councils (-€0.1 million).

-The government deficit for 2008 decreased by €6.1 million, due to updated data sources in respect of the 'other accounts receivable and payable' (+€6.4 million) and EBUs (-€0.3 million).

-The government's deficit for 2007 was revised upwards on account of the EBUs (-€3.8 million).

-The government debt levels were revised upwards for 2007 (€5.8 million), 2008 (€5.8 million) and 2009 (€6.8 million), as a result of updated information in respect of EBUs.