MINISTRY OF FINANCE

PLANNING, ECONOMIC DEVELOPMENT & PHYSICAL DEVELOPMENT

DIVISIONS

 

 

NO. 124 /2018                26th June 2018

 

MINISTER FOR FINANCE AND TOP STAFF ENGAGE GRENADA BANKERS’ ASSOCIATION

 

Minister of Finance, Dr. the Rt. Hon. Keith Mitchell said that the financial sector is critical to the development of Grenada and as such, the Government will be engaging key stakeholders in the sector on a quarterly basis.

 

Dr. Mitchell made this disclosure on Friday, June 22, 2018, at the Republic Bank Board Room when members of the top echelon of the Ministry of Finance held fruitful discussions with the Grenada Bankers’ Association (GBA).

 

The Association commended the Government on its stewardship of the country’s fiscal affairs, and the well-established and ongoing nature of the periodic dialogue between the two entities.  In this vein, the Prime Minister solicited ideas from the grouping on how to build on the economic achievements.

 

The Finance team proposed ways for the GBA and the Government to work more closely in areas of national importance, such as access to credit by Small and Medium-sized Enterprises, as well as by workers (in both the public and private sectors) who are employed on contract.  The bankers indicated their willingness to work with Government in these and other areas of mutual interests.

 

To this end, the Bankers’ Association said they are fully behind the Inland Revenue’s Reform Agenda since they believe that tax compliance and enforcement, including measures for the annual payment of Property Taxes, can be mutually beneficial.

 

The government and the GBA have decided to work together on mechanisms to strengthen tax compliance and close loopholes in an effort to minimize revenue leakages for Government and strengthen credit compliance for banks.

 

 

END…

 

BUDGET UNIT

 

MISSION STATEMENT 

 

To allocate resources based on the Government’s

 

priorities and its macroeconomic and fiscal policy

 

goals; and to promote greater economy and

 

efficiency in the utilization of those resources            

 

 

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DEBT MANAGEMENT UNIT

 

OVERVIEW 

 

 

The main objective of the Debt Management Unit is:

 

“Ensuring that the financing needs of the Government

 

are met on a timely basis and that its debt service

 

obligations are met at the lowest cost over the

 

medium-to-long term, in a manner that is consistent

 

with an acceptable and prudent degree of risk”

 

(Public Debt Management Act 2015).

 

 

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POLICY UNIT

 

OVERVIEW 

 

The purpose of the research and policy unit is to ensure

 

that fiscal and macro economic policy decisions are

 

well informed and have the necessary leverage, which

 

will ensure that good policies are made.

 

 

 

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CENTRAL STATISTICAL OFFICE

 

OVERVIEW 

 

 

To produce timely, reliable and accurate data

 

for monitoring, evaluating, planning and stimulating

 

social and economic development and the

 

preservation and safety of the environment.

 

 

 

SITE UNDER CONSTRUCTION

GOVERNMENT PRINTERY

 

MISSION STATEMENT 

 

 

The Grenada Government Printery will provide

 

the highest quality printing, binding and related

 

services to Government Ministries and Departments

 

on a timely, cost-effective basis, best utilizing available

 

resources. The Division will also facilitate public

 

access to the print and digital publications of Government.

 

 

 

 

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PUBLIC PROCUREMENT UNIT

 

OVERVIEW 

 

 

 

The Government of Grenada has introduced a Public

 

Procurement and Disposal of Public Property Act and

 

Regulations to formally legislate the procedures and

 

processes in government purchases of goods, works and

 

services by all public entities including Ministries and

 

Departments, Statutory bodies, Boards and Commissions.

 

 

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CUSTOMS AND EXCISE DIVISION

 

MISSION STATEMENT

 

To assist in (i) securing the social, economic and

 

ecological environment of our country, (ii) the

 

collection of revenue due to government and (iii)

 

the facilitation of the movement of cargo and

 

travelers by administering all laws and regulations

 

relating to Customs with prudence, equity, integrity

 

and impartiality.

 

 

 

 

 

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INLAND REVENUE DIVISION

 

OVERVIEW 

 

 

 

 

The Inland Revenue Division (IRD) is a Division

 

within the Ministry of Finance and Energy and

 

is charged with administering the tax laws of

 

Grenada in a fair and just manner. It is overseen

 

by a Comptroller who is responsible for the Day

 

to day operations of the Division, subject to the

 

direction of the Permanent Secretary.

 

 

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TRADE UNIT

 

OVERVIEW

 

 

 

The Ministry of Trade, Industry, Co-operatives and

 

CARICOM Affairs is situated on the ground floor,

 

Unit No. 3 of the Financial Complex on the Carenage

 

St George’s. The work of this Ministry is quite diverse in

 

that the division of Trade and Export Development

 

has responsibility for facilitating trade and promoting

 

Exports.

 

 

 

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PUBLIC DEBT QUARTERLY BULETIN

QUARTER 3 - 2018

 

 

Address:         Financial Complex

                       The Carenage

                        St. George’s

                        GRENADA, W.I

 

 Telephone:     (473) 440-2731 – (4)

 Facsimile:       (473) 440-4115

 Telex:              (473)3418

Email:              This email address is being protected from spambots. You need JavaScript enabled to view it.

 

 

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