Government’s Consolidated Fund registered a surplus of €4.3 million between January and October this year.

Compared to the same period last year, recurrent revenue registered an increase of €374.9 million whereas total expenditure went up by €265.8 million. This resulted in a positive change in the government’s consolidated fund of €109.2 million.

In January-October, recurrent revenue was recorded at €3,282.1 million, up from €2,907.2 million last year.

The comparative increase of 12.9 per cent was primarily the result of higher Value Added Tax and Income Tax which both increased by €100.6 million.

Compared to January-October last year, total expenditure stood at €3,277.8 million up from €3,012 million due to added outlays on recurrent expenditure and capital expenditure which outweighed lower spending on interest payments.

Recurrent expenditure stood at €2,859.1 million from €2,594.5 million last year. The main contributors to this increase were Programmes and Initiatives and Personal Emoluments with a rise of €200.7 million and €30.5 million respectively.

The interest component of the public debt servicing costs stood at €181.7 million, down from €187 million last year.

Government’s capital expenditure witnessed an increase of €6.6 million, and was recorded at €237 million.

At the end of October, central government debt stood at €5,605.9 million, down by €73.9 million over the corresponding month last year. This was the result of lower treasury bills and Malta

Government Stocks which decreased by €116.4 million and €28.5 million respectively.

Moreover, foreign loans decreased by €10.4 million. On the other hand, the new 62+ Malta Government Savings Bond added €99.6 million and euro coins issued in the name of the Treasury increased by €5.9 million.

Higher holdings by government funds in Malta Government Stocks resulted in a decrease in debt of €24.3 million.