COMMUNIQUE FROM HOMEGROWN PROGRAMME MONITORING COMMITTEE (HPMC) NO. 01/2016

COMMUNIQUE FROM HOMEGROWN PROGRAMME MONITORING COMMITTEE (HPMC) NO. 02/2016

COMMUNIQUE FROM HOMEGROWN PROGRAMME MONITORING COMMITTEE NO. 03/2016

 

FISCAL SUMMARY: January to May 2014

 

- Revenue outturn continues to be strong relative to program projections (collections of $220.2M as

  against projections of  $195.8M).

 

- Grant receipts continue to lag behind (actual collections were $15.0M compared with projections of

   $32.8M).

 

- Current spending for the period January – May, 2014 was within target ($27.0 million less than

  projections – no payment of back pay in May).

 

- Capital expenditure reached $59.4 million (28% of the 2014 program target).

 

 

 

 

Revenue collections by Department: Jan. to May 2014

 

 

 

 

 

 

•Customs & Excise collected $91.0M against projections of $83.2M, a favourable of $7.8M.

 

•IRD collected $103.2M as against projections of $97.3M, a favourable variance of $5.9M.

 

•Non tax Revenue is ahead of projections by $10.5M on account of an injection of $13.5M

         in Special Licences during the month of April.

 

 

Revenue   Category (Details)	January -  May   2014 Actual (EC$mn)	January - May  2013 Actual (EC$mn)	Variance (EC$mn)
Taxes on Income & Profits	$37.4 m	$25.9 m	$11.5 m
Taxes on  Property	$10.8 m	$6.1 m	$4.7 m
Taxes on Goods & Services	$47.7 m	$43.3 m	$4.4 m
Taxes on International Transactions	$91.0 m	$79.5 m	$11.5 m
Non - Tax Revenues	$33.3 m	$43.0 m	($9.7 m)
Total   Current Revenue	$220.1 m	$197.7m	$22.4m

 

 

Related Documents: 

 

                        -Letter of Intent

 

              -Letter of Intent - Grenada Staff Report

 

              -Fiscal Results (First Half 2014)