Money lockbox finances

Malta’s state coffers registered a deficit of €382.7 million within the current account balance for the second quarter of 2021, provisional figures released by the National Statistics Office (NSO) have shown, an increase of €55 million one year ago.

This deficit was primarily the result of negative net balances recorded in the goods account (€665.2 million), the primary income account (€333.7 million) and the secondary income account (€43.5 million). This was partly offset by a positive net balance of €659.6 million recorded in the services account.

During the second quarter of 2021, the capital account registered a positive net balance of €15.9 million, €7.5 million lower than the figure recorded in 2020.

The financial account was shaped by net asset increases of €110.4 million, an increase in the balance of net assets of €167.9 million when compared to the value recorded in the same quarter of 2020.

The development in the financial account balance was mainly brought about by positive net asset balances in portfolio investment (€1,952.9 million) and other investment (€742.0 million). This was partly offset by a negative net asset balance recorded in direct investment (€2,599.6 million).

Financial derivatives and reserve assets increased by €12.0 million and €3.1 million respectively during the same period.

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