Malta’s debt down to 66.3% of GDP

Malta’s consolidated debt at the end of the third quarter in 2015 stood at 66.3% of its gross domestic product, a reduction of 4.5 percentage points when compared with the same period last year.

Eurostat statistics show that this was the fifth largest decrease in debt to GDP ratio out of all EU countries.

The government noted in the statement that the debt to GDP ratio is now at the lowest rate since June 2009, and 10.4 percentage points lower than it was when Labour were elected to government in March 2013.

“These statistics add further evidence to the IMF’s recent annual report that gave the thumbs up to the government’s plan to improve public finances,” the government said. “International credit agencies also predict that the increase in the debt to GDP ratio that took place under the previous administration will be entirely reversed by the end of the current legislature.”