Government deficit at €75.2 million, down from €82.2 million in 2009

During the June quarter, total revenue stood at €593.0 million, an increase of €22.6 million compared to the corresponding quarter last year. The main contributors to the increase in total revenue were 'social contributions receivable' (+€20.0 million), 'capital transfers receivable' (+€19.2 million), and 'property income receivable' (+€4.7 million).

On the other hand, the major decline in revenue was recorded in 'taxes on production and imports' by €21.7 million.

Concurrently, total expenditure during the second quarter amounted to €668.2 million. The comparative increase of €15.6 million was the result of higher 'property income' (+€11.0 million), 'social benefits and transfers in kind' (+€10.3 million), 'intermediate consumption' (+€8.7 million), and 'compensation of employees' (+€8.6 million). Conversely, 'gross capital formation' and 'current transfers payable' recorded declines of €16.1 million and €12.1 million respectively.

Amajor increase in financial transactions in assets was recorded in 'currency and deposits' of €31.7 million. In addition, 'long-term loans' increased by €15.2 million, mainly triggered by the loan facility to Greece which amounted to €14.8 million. These were partly outweighed by declines of €4.6 million in 'other accounts receivable' and €1.2 million in 'shares and other equity'.

On the other hand, with regard to financial transactions in liabilities, 'long-term securities' registered an increase of €118.6 million while 'short-term securities' went up by €16.5 million.

Conversely, 'long-term loans' and 'other accounts payable' exhibited a decrease of €10.4 million and €14.9 million respectively.

Total General Government debt outstanding at the end of June increased by €291.0 million from the comparable period in 2009, and amounted to €4,166.1 million.

Central Government debt increased by €290.9 million. This was underpinned by higher long-term securities (Malta Government Stocks) which went up by €385.2 million. On the other hand, Central Government short-term securities and loans declined by €91.6 million and €6.7 million respectively.

The euro coins issued in the name of the Treasury, which are considered as a currency liability pertaining to the Central Government, amounted to €38.8 million, a rise of €3.9 million over the euro coin stock recorded at the end of June 2009. In addition, the Local Government debt edged up by €100,000.