Labour Party Accuses Alex Borg Of Lying To Public On National Debt

The Office of Communications of the Labour Party has issued a statement criticising Nationalist MP Alex Borg over comments made during the recent electoral campaign concerning Malta’s national debt figures and the National Statistics Office (NSO).

According to the statement, Borg had alleged during a political activity in Naxxar that the government delayed publication of NSO figures relating to the Consolidated Fund in an attempt to conceal an increase in national debt. The Labour Party also accused Borg of undermining the credibility of the NSO by suggesting the institution was influenced by government interests.

The controversy centred around figures cited from European Central Bank statistics, which Borg claimed showed government borrowing had reached €12 billion by the end of April, with an increase of €1 billion in a single month. However, the Labour Party argued that the figures referenced related to non-consolidated debt and did not reflect the Eurostat definition used for national debt calculations. It also pointed to subsequent revisions issued by the ECB regarding the data.

Following the publication of the NSO statement, the Labour Party said the figures confirmed that national debt had not increased by €1 billion within one month, but rather over the course of a year. It also highlighted that the Consolidated Fund deficit for April stood at under €66 million, significantly lower than the same period last year.

The statement went on to call for an apology from the Nationalist Party leader towards the public and the NSO, insisting that the institution enjoys both local and international credibility.

The Labour Party also referenced international reporting suggesting Malta is expected to exit the European Union’s Excessive Deficit Procedure earlier than anticipated due to the country meeting fiscal targets ahead of schedule.

#MaltaDaily