Be the first to comment!General Government deficit for 2010 is 3.6 per cent of GDP
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In 2010, General Government net borrowing (or deficit) 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 per cent of GDP, down from 3.7 per cent for 2009. These figures were released from the National Statistics Office today.
At the end of 2010, the General Government nominal gross consolidated debt amounted to €4,250.4 million, or 69.0 per cent of GDP, up from €3,954.0 million, or 67.8 per cent 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 payable (+€62.8 million) 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 in accordance with Council Regulations and with the Code of Best Practice adopted by the Ecofin Council on 18 February 2003.
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.
EDP Consolidated Inventory
The EDP Consolidated Inventory of Sources and Methods is available on the NSO website. This document may be accessed at http://www.nso.gov.mt/docs/EDP-Inventory.pdf.
