FISCAL SUMMARY: January to May 2014
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- 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
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•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)
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|
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 - Grenada Staff Report
-Fiscal Results (First Half 2014)