Alex Borg confirms he has no idea of how the country’s finances work and made a blatant lie by claiming the Government increased the debt by one billion euros in one month.

If anyone needed confirmation that Alex Borg does not know what a “fiscal forecast” is, it is now confirmed, as he even showed he doesn’t even understand statistics on national debt. Borg, while trying to cite statistics from the European Central Bank (ECB) blatantly failed to understand the document he was quoting.

As Eurostat itself specifies, debt measures must be consolidated. Therefore, government debt is defined as the total consolidated gross debt at nominal (face) value outstanding at the end of the year and consolidated between and within the sectors of general government.

In simpler terms, to understand how much the Government actually needs to pay, one must consolidate the debt and subtract what is already in the Government’s own hands.

Is this a case of Alex Borg not understanding the very basics of public finances, is he once again lying to try deceive people, or both?

What is certain is that Borg lied when he claimed that the Government instructed the National Statistics Office (NSO) not to publish a statement on the Consolidated Fund’s progress in April. Firstly, this statistic has nothing to do with what he tried to quote yesterday. Secondly, the NSO even published a press information notice stating that the decision to postpone the statement on the Consolidated Fund was due to Article 114(1) of Chapter 354. This specifies that on the day of reflection, no material that could influence voters should be published. The NSO made this decision independently of the Government, as it always does on statistical matters.

Alex Borg does not even understand the basics. If he had the country’s budget in his hands, he would be unable to implement it because he does not grasp simple concepts. It is no coincidence that he presented an election manifesto riddled with errors. It is now clearer than ever that you cannot trust him!