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Malta's debt-to-GDP ratio reduced

Xinhua, June 17, 2015 Adjust font size:

The Maltese government has managed to cut debt burden on the economy, according to data published on Tuesday by the National Statistics Office.

Figures showed that the country's national debt as a percentage of GDP fell from 69.2 per cent in 2013 to 68.0 per cent in 2014, meaning that the government has managed to reduce the debt-to-GDP ratio by 1.2 percentage points in one year.

Malta's Minister for Finance Edward Scicluna commented that the successful accomplishment of both deficit and debt targets led the European Commission to "recommend Malta to be removed from the excessive deficit procedure."

Figures of the structure of general government debt also show that the composition of the debt remains prevalently local with most of the debt having a medium to long term maturity. Endit