Government’s deficit for 2010 estimated at €222.2 million

According to the National Statistics Office, government’s net borrowing was estimated at €222.2 million, up from a deficit of €216.7 million for 2009. In 2010, the General Government deficit was equivalent to 3.6% of GDP, down from 3.7% for 2009.

At the end of 2010, the General Government nominal gross consolidated debt amounted to €4,250.4 million, or 69% of GDP, up from €3,954.0 million, for 2009.

The balance of the Government's consolidated fund, amounting to -€279.2 million is adjusted to arrive at the General Government Sector's deficit for 2010.

Positive adjustments included the other accounts receivable and the non-financial transactions in the treasury clearance fund (+€35.1 million).  On the other hand, the main negative adjustments were the time-adjusted cash transactions (-€32.0 million) and the deficit of the Extra Budgetary Units (-€12.4 million).

On 30 September, Malta submitted its report on government deficit and debt levels for the years 2007-2011. Compared to the previous submission of 30 March, the following updates were made:

- The deficit of the General Government for 2010 was revised downwards by €4.1 million mainly as a result of an increase in other accounts receivable by €5.1 million partially outweighed by a higher deficit for the Local Councils of €1.2 million.

- The General Government deficit for 2009 decreased by €0.3 million, due to updated data sources in respect of the net lending/net borrowing of EBUs.

-  The deficit of the General Government for 2008 was revised upwards on account of EBUs (+€0.7 million).

- The General Government debt levels were revised upwards for 2010 (€2.1 million) as a result of updated information in respect of EBUs and Local Councils.