Deficit lowered

The government’s Consolidated Fund registered a deficit of €204.5 million between January and October, a positive change of €78.1 million.

The National Statistics Office said that in the period under review, recurrent revenue was recorded at €2,766.1 million, up from €2,499.9 million last year. The major contributors to the comparative increase of 10.6 per cent were higher proceeds from customs and excise duties (€83.4 million) and income tax (€74.8 million).

Proceeds from the Central Bank of Malta recorded a decline of €2 million. Compared to the same period last year, total expenditure increased by €188.2 million due to higher capital and recurrent expenditures and interest payments.

Recurrent expenditure went up by €162.9 million, totalling €2,434.1 million. Programmes and initiatives recorded the highest increase at €91.8 million.

The interest component of the public debt servicing costs stood at €195.8 million, up by €3.8 million from last year.

Government’s capital expenditure was recorded at €340.7 million, up by €21.5 million from last year. This increase was mainly due to outlays on the autoclave animal waste facility of €10.9 million, an increase in the acquisition of...