Malta’s National Debt Reaches €11.36 Billion in 2025

Malta’s central government debt reached €11.36 billion at the end of 2025, up €893 million compared to 2024, according to the National Statistics Office (NSO).

The increase was mainly due to higher holdings in Malta Government Stocks, Treasury Bills, and Euro coins, partly offset by drops in Savings Bonds and foreign loans.

Recurrent revenue rose to €8.07 billion, up €212.3 million from 2024, led by Social Security, Value Added Tax, and Licences, Taxes, and Fines.

Some areas, like Grants, Income Tax, and Miscellaneous Receipts, saw decreases. Total government spending grew faster, reaching €8.89 billion, resulting in a deficit of €823.9 million, nearly double the €432.7 million recorded in 2024.

The Nationalist Party highlighted that the record level of debt and rising interest costs, which reached €296.6 million in 2025, are placing a growing financial burden on taxpayers, citing the Government’s economic performance.

Government capital spending for 2025 was €1.11 billion, slightly lower than 2024. Spending fell on Energy infrastructure, road construction, and other projects, but rose for the second electricity interconnector, investment incentives, and the RePowerEU initiative.

These figures show that Malta’s debt and deficit are increasing faster than revenue, putting growing pressure on public finances.

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