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Malta Fact Check

"The deficit fell to 2.2% of GDP in 2025."

Clyde Caruana Minister for Finance · PL
Our verdict
TRUE

NSO confirms: €237.2m / 2.2% of GDP. First time below the 3% Maastricht threshold since 2020.

Full analysis

The claim in context

Speaking on 22 April 2026, Finance Minister Clyde Caruana confirmed that Malta's 2025 government deficit had narrowed sharply to 2.2% of GDP — bringing the country back within the EU's 3% Maastricht threshold for the first time since the pandemic.

"The deficit fell to 2.2% of GDP in 2025 — first time below the 3% Maastricht threshold since 2020."

What the NSO data shows

NSO data confirm the figure precisely. The 2025 deficit was €237.2 million in absolute terms, down from €750.4 million the prior year:

Malta general-government deficit, % of GDP
2022
5.5%
2023
4.6%
2024
3.4%
2025
2.2%
EU threshold
3.0%
Source: NSO Malta; Newsbook; Malta News Agency, April 2026.

The improvement was driven by faster-than-expected revenue growth and a moderation in pandemic-era support spending. It is also the first time since 2020 that Malta has been below the Maastricht threshold — a politically significant milestone for the government's fiscal credibility.

Bottom line

The number is correct as cited and the contextual claim about the Maastricht threshold also checks out. Verdict: True.

Sources