Issue link: https://maltatoday.uberflip.com/i/1523079
8 maltatoday | THURSDAY • 26 JUNE 2024 NEWS MALTA'S national debt rose from €4.9 billion in 2012, to €9.8 billion in 2023, infor- mation tabled in parliament shows. The data was tabled by Fi- nance Minister Clyde Caru- ana in reply to a parliamen- tary question by Opposition MP Graziella Attard Previ. The national debt steadied at around €5.7 billion be- tween 2013 and 2019, before the pandemic hit in 2020. Due to a number of finan- cial aid schemes by govern- ment in the pandemic years, the national debt rose to €6.9 billion in 2020, €8.3 billion in 2021, €8.9 billion in 2022 and €9.8 billion in 2023. In reply to another parlia- mentary question by the Op- position MP, Caruana said the public debt as a percent- age of GDP for 2023 stood at 50.4%. The minister also provid- ed a breakdown of the year- ly interest paid on national debt by government. In the past 12 years, the year which saw the highest amount paid was 2014 at €235 million, while the lowest was 2022 at €164 million. Asked what the projec- tions are for national debt by the end of this legislature (2027), the minister did not provide a figure, but said it will be less than 60% of the GDP, as is established in the Economic Governance Framework. Last week it was announced Malta is set to face an exces- sive deficit procedure after the European Commission recommended action against seven EU member states. The last time Malta faced an excessive deficit proce- dure was in 2012 when a Nationalist government was forced to make spending cuts to the tune of 0.59% of GDP to meet deficit projec- tions. EU member states are re- quired to keep their annual deficit below 3% of GDP and a debt-to-GDP ratio of 60% or less. Following an assessment of 12 member states to deter- mine compliance with the deficit criterion, the Europe- an Commission on Wednes- day recommended the opening of a deficit-based excessive deficit procedure for Malta, Belgium, France, Italy, Hungary, Poland and Slovakia. Malta's national debt in numbers Data tabled in parliament shows Malta's national debt rose from €4.9 billion in 2012, to €9.8 billion in 2023, with the sharpest rise recorded during the pandemic years KARL AZZOPARDI kazzopardi@mediatoday.com.mt PUBLIC Service workers should find the courage to "stop" if they believe the pro- posed path is not in the inter- est of the national good for the benefit of the people and the country, President Myriam Spiteri Debono said. "Serving the state and the people as public officers is not always easy, particularly in certain tasks faced by offi- cials in the upper ranks of the hierarchy. We must keep in mind that the Public Service is a perennial institution – eter- nal, it is there forever!" she said during the 2024 Public Service Awards. She said Public Service of- ficers must be firm, impartial and in no way partisan. The President praised the Public Service's efforts to in- tensify accessibility and in- formation to the public that should be provided with the services they need and to which they are rightfully en- titled. She appreciated the service's efforts to provide online infor- mation and services; however, in this regard, she said that people must not forget those who either do not know how, or do not feel comfortable us- ing these means of communi- cation, and therefore prefer in-person services. "The Public Service is the backbone of democratic lead- ership, one of the guardians of good governance. That is why public officers must be honest, principled, and above all loyal to the country and to the peo- ple. As a matter of fact, the im- portance of the Public Service stems from Chapter X of the Constitution of Malta, which is dedicated to the Public Ser- vice," she said. Therefore, she said, for Pub- lic Service officers to accom- plish and fulfil their obliga- tions towards the state and the people in the performance of their duties, they must be guided by good judgement and caution. President: Public Service workers must find courage to 'stop' in the face of wrongdoing President Myriam Spiteri Debono says Public Service workers should find the courage to 'stop' if they believe the proposed path is not in the interest of the national good for the benefit of the people and the country President Myriam Spiteri Debono addresses the 2024 Public Service Awards (Photo: DOI)