Malta’s national debt is spiraling out of control, hitting unprecedented record levels month after month. The latest figures from the National Statistics Office (NSO) paint a grim picture, revealing that by the third quarter of 2025, our national debt had soared to an staggering €11,215 million.
To put that into perspective, this monumental figure means that every single Maltese and Gozitan citizen, from newborns to the elderly, now carries a burden of almost €28,000 in debt. It’s a weight that grows heavier by the day, directly impacting the financial stability and future prospects of our nation.
A Mountain of Debt Under Robert Abela
Despite boasts last April from the Finance Minister that Malta would exit the procedure early, our nation has been under the European Union’s Excessive Deficit Procedure since July 2024. This alarming fact underscores a severe lack of fiscal discipline.
The Government led by Robert Abela has, in just one year, managed to accumulate an astounding €1,050 million in new debt – over one billion euro. More critically, since taking office, Prime Minister Abela has overseen the accumulation of more national debt than all previous Prime Ministers combined, irrespective of their political party.
And the projections are even more concerning: by 2028, Robert Abela’s administration is planning to push our national debt past the €14 billion mark. This means that while he has already doubled the debt accumulated by all his predecessors, he is on track to triple it within the next three years. This trajectory is unsustainable and deeply worrying for Malta’s long-term economic health.
Taxpayers Footing the Bill: €1 Million in Interest Daily
The direct consequence of this record-breaking debt is an equally record-breaking interest burden on hardworking taxpayers. The interest on our national debt now stands at almost €1 million every single day. That’s €1 million that could be invested in improving our quality of life, strengthening our public services, or addressing critical national challenges, instead of simply servicing past borrowing.
Experts Warn of Vulnerability
It’s not just political parties sounding the alarm. The Government’s own Fiscal Advisory Council – a body of experts tasked with assessing economic and fiscal policy – has issued a stern warning. They’ve highlighted that current government spending is placing the country in a vulnerable position and have unequivocally called for the government to strengthen Malta’s public finances. Their advice, however, appears to be falling on deaf ears.
Ignoring Pressing Challenges Amidst Fiscal Chaos
While debt and deficit figures continue their upward spiral, little to nothing is being done to tackle the most pressing challenges faced by ordinary Maltese families. The rising cost of living continues to bite, our infrastructure crumbles, traffic congestion remains chronic, sea quality deteriorates, and hospital queues grow ever longer. These are the issues that directly impact citizens’ daily lives, yet they seem to be overshadowed by unchecked spending and a lack of fiscal responsibility.
The situation is further exacerbated by what appears to be a government losing its grip. As national finances slide out of control and interest payments soar, we continue to witness wasteful spending by Ministers and their associates, discretionary spending goes unchecked, and scandal after scandal emerges. It’s a clear sign of an administration that has grown tired, lost its focus, and, critically, lost control over the country’s direction.
It’s time for serious reflection and urgent action before this unprecedented debt burden cripples our nation’s future.
Source: Original Article
