PN registered €600,000 deficit in 2019, with media arm costing it €14m

The Nationalist party registered a deficit of €607,279 in 2019, according to its latest published accounts.  

The PN approved its 2019 accounts in February 2021 and filed them with the electoral commission that same year.

However, the electoral commission only published them earlier this month - more than a year later. It did not say why it took so long to make the audited accounts public. 

The Labour Party’s financial documents have not been published by the commission yet, indicating that they have likely not filed them. 

Parties are legally obliged to file audited accounts each year. 

It is not known whether either party has filed audited accounts for 2020 or 2021.    

Meanwhile, the PN’s 2019 accounts show the PN registered a surplus of €326,132 that year. However, that surplus becomes a deficit of more than €600,000 once an impairment of €928,258 is factored in. The impairment relates to amounts advanced to companies and entities linked to the PN - mainly its media arm, Media.Link, and a travel agency it owns.    

Months after the 2019 accounts were approved by the party, PN deputy leader Robert Arrigo had claimed that the party had turned a profit and was financially...