Government debt falls short of 2011 targets

Karmenu Vella said budgetary estimates for the year-end put national debt at 4,392 million, but the NSOs latest data already points to a debt figure of 4,555 million as at November.

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National debt figures will fall below their 2011 target by €164 million, Labour's finance spokesperson Karmenu Vella, citing statistics from the National Statistics Office.

The Labour MP said budgetary estimates for the year-end put national debt at €4,392 million, but the NSO's latest data already points to a debt figure of €4,555 million as at November.

Vella said the national debt figure for November 2010 had been €4,210 million, €345 million less than November 2011.

"Government has continued to indebt itself without compensating for its spending or having anything to show for its accumulated debt.

"These figures show that despite the sacrifices demanded of the Maltese people, with the exception of Cabinet ministers who enjoy a €500 weekly salary increase, Lawrence Gonzi is failing from improving the country's financial state," Vella said.

The Labour MP said debt reduction and fiscal discipline were crucial for Malta's credibility in the European Union.

"Once again the government is using the Budget to give a very different picture to what is happening in reality. We need a responsible government that focuses on the real problems of families and businesses, and offer direction," Vella said.

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X'hemm moħbi Alla biss jaf.

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Ibqghu zguri li dan ghadu biss il-bidu. Min jaf x'inhu gej aktar ma toqrob l-elezzjoni - ara kemm se jsir ferm aktar tberbiq, hela, pjaciri, infiq bl-addocc, sparpaljar, tahwid, intricci, uzu ta' fondi pubblici ghal ta' gewwa, tgerfix, ..... Haga wahda ta' min jghid hawn - erbat ijiem ilu l-President fakkarna biex ma nonfqux bl-addocc u biex ingewwsu ghal li jista' jinqala1. Haga wahda ma qalilniex - li l-President ta' qablu Fenech Adami meta kien Prim Ministru kien faqa' l-kaxxa ta' Malta bid-dejn li ghabbiena bih sena wara l-ohra, miljuni fuq miljuni ta' euro li bilkemm zammejna amment taghhom u meta kien President l-istess Fenech Adami faqa' wkoll il-kaxxa tal-Community Chest Fund (ghax hemm imdorri jaghmel kull fejn ikun u hekk biss jaf jaghmel) tant li kif ha postu l-President Abela mill-ewwel qal x'dizastru sab fil-Community Chest Fund. Haga wahda tohrog minn dan kollu - bil-PN fil-gvern il-deficit dejjem tiela' u tiela', l-aqwa li bwiethom u l-bwiet tal-klikka favorita ta' madwarhom ikomplu jihxienu.

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L-importanti ghall-gvernijiet nazzjonalisti hu li waqt id-diskors tal-budget, il-ministru jinstema jpingi xena kemm jista jkun sabiha u inkoragganti, ghax jafu li dak il-hin il-maggoranza kbira tal-poplu jkunu qed jarawh u jisimghuh. X'jigri wara bil-fatti mhux importanti ghax ftit jaqraw il-gurnali. U dawk li jisimghu l-ahbarijiet fuq TVM u NET TV qatt ma jisimghu dak li jdoqq hazin ghal-widnejn ! Eddy Privitera

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Promised by the Nationalist Government "The Great Expectations" Higher taxes, higher food prices, higher utility BILLS, and a chaotic Public Transport Was it meant to be "The €500 weekly increase and other benefits"

Government debt falls short of 2011 targets

Labour MP says national debt already €164 million than budgetary estimates.