Finance minister Pierre Gramegna said the stable situation follows from “prudent management of public spending and positive and sustainable economic growth”.
Photo: Maison Moderne archives
The state budget is “healthy”, according to finance minister Pierre Gramegna (DP), who presented a midyear snapshot in a parliamentary session Wednesday morning.
The central admin finds itself at a surplus of €869m as of 30 June--an improvement of €957m, year-on-year. While spending rose 2.8%, revenues were 13.4% higher than for the same period in 2018.
Gramegna said the stable situation follows from “prudent management of public spending and positive and sustainable economic growth”.
According to the government statement, “public spending is still evolving at a slower pace than last year, although this momentary effect should gradually dissipate over the rest of the financial year”.
There was a slight slowdown for sales in diesel, down 6.2% compared with the same period in 2018, but the cause for this was cited at least in part due to the increase in excise duties on such products as of 1 May.
Gramegna added that the ministry would continue controlling expenditures during the 2019 budget implementation and in preparing for the budget in the year ahead.