PM Gonsalves gives prelude to 2011 fiscal outturn

The 2012 Estimates of Revenue and Expenditure will be presented in the House of Assembly on December 13. However, Vincentians were given a prelude to the fiscal outturn for the period January to October 31 this year.{{more}}

Responding to a question posed by Leader of the Opposition Arnhim Eustace to compare this year’s fiscal performance to that of 2010, Prime Minister Dr Ralph Gonsalves indicated that the amount for revenue and grants stood at $416.8 million compared to $402.6 in 2010.

The current revenue for 2011 was $377.4 million, compared to $391.3 million in 2010; capital revenue and grants was $39.4 million in 2011 and $11.3 million (2010); total expenditure $453 million and $434.6 million in 2010; recurrent expenditure $412.5 million and $396.5 million in 2010; capital expenditure $40.5 million and $38.1 million in 2010; the current balance in 2011 -$35.1 million, compared to -$5.2 million in 2010 and the overall balance $36.3 million and $32 million in 2010.

Gonsalves explained that the figures presented did not accurately reflect the actual amounts.

For instance, the prime minister said that an amount of $5 million from the credit facility of the International Monetary Fund had not yet arrived in the account and the capital money was unaccounted for.

“But what figures do give you is that everything being equal each year, we look at the trend. That is the important question which is at stake,” the prime minister said. (DD)