‘Government’s rush on IIP to make up for negative economic results’ - PN

The increase in national debt and deficit accounts for the government’s rush to cash-in on the citizenship scheme, the Nationalist Party said in a statement.

Statistics published by the NSO on Tuesday showed that government debt outstanding at the end of September advanced by €509.3 million over the comparable period in 2012.

Former Finance Minister Tonio Fenech said that due to incompetent governance, a Labour government has put a burden on the taxpayers of half a billion euro in debt, without having any results to show.

“Despite the rise in government’s revenue, the national debt continued to increase. The government is using taxpayers’ money to appease those who were loyal to him,” Fenech said.

Fenech also pointed out an increase in deficit from €57 million in 2012 to €94 million.

“According to the statistics, the government’s expenditure on salaries increased by €22 million in just three months. This confirms what the opposition was saying regards political appointments in the civil service, and to cover up the ever increasing problem of unemployment,” Fenech concluded.

NSO statistics showed how during July-September 2013, total revenue stood at €682.1 million, an increase of €33.3 million when compared to the third quarter of 2012. Total expenditure in the third quarter amounted to €776.2 million.