Malta’s general government debt increased by €817.7 million in 2024, reaching a total of €10,648.4 million. This rise in debt is accompanied by a deficit of €825.3 million, equivalent to 3.7% of the country’s GDP. Although this deficit represents an improvement from the previous year’s deficit of 4.7% of GDP, it still indicates a challenging fiscal situation.
The government’s revenue totaled €7,784.2 million, while expenditure reached €8,609.5 million, resulting in the aforementioned deficit. Malta’s debt-to-GDP ratio stands at 47.4%, down slightly from 47.9% in 2023. The government has been working to maintain the debt-to-GDP ratio below the 60% threshold.
In recent years, Malta’s economy has shown resilience, with a growth rate of 4.2% expected in 2024. However, the country faces challenges, including high inflation and tight labor market conditions. The government has implemented measures to support economic growth, such as subsidies for energy, fuel, and grains, which are expected to amount to €350 million in 2024.
Overall, Malta’s fiscal situation remains complex, with the government navigating the need to balance economic growth with debt management.
