Government of Malta - 2024 Annual Borrowing Plan

On 7 February 2024, the Treasury Department announced that the amount of issuance of Malta Government Stocks (MGS) during 2024 will not exceed €1.7 billion. The funds raised will be principally used to finance the estimated Government deficit of €992.1 million, equity acquisitions of €215 million, and the redemption of four MGS issues and the 62+ Malta Government Saving Bond issued in 2019 which, in aggregate, amount to €489 million.

The Treasury explained that the conventional fixed rate MGS will be the primary financial instrument used to fund the Government’s borrowing plan. The Treasury is aiming to spread its issuance programme for 2024 over five to six issues whilst the maturity structure will be a mix of short and medium to long MGS. Full details of the MGS on offer and the respective amounts and maturities will be published one to two weeks prior to each offer.

Meanwhile, the Treasury also explained that it will continue to hold auctions for treasury bills on a weekly basis, with issuance expected to focus on the 91-day and 182-day tenor.