- For the month of August 2015, Government realized an overall surplus of $1.1 million with total revenues & grants amounting to $52.9 million versus total expenditure (recurrent & capital) of $51.8 million.
- Revenue collection for the month of August was less than targeted (receipts of $42.8 million as against projections $47.5M) on account of lower than expected CBI receipts. Of the $10.1 million budgeted in CBI fees, only $1.1M was received in August. That said both Customs & Excise and IRD exceeded their targets for the month of August. Total revenues collected in August 2015 were 12.3 per cent or $4.7 million higher than collections in August of 2014.
- Grant receipts, particularly NTF grants, have not picked up as expected. Grant receipts in August amounted to $10.1M as against target of $19.5M.
- Current expenditure was broadly in line with target (actual spending of $35.4 million as against target of $38.1 million (a favourable variance of $2.7 million). The level of current spending in August 2015 was $0.5 million less than the amount spent in August of last year.
- Capital expenditure amounted to EC$16.4 million. This level of spending was lower than the $25.9 million projected as a result of the underperformance of NTF grant receipts.
NOW Grenada is not responsible for the opinions, statements or media content presented by contributors. In case of abuse, click here to report.