March 2, 2012
SVG fiscal performance improves – PM

There have been improvements in the country’s fiscal performance for the period ending January 31, 2012 compared to the corresponding period in 2011.{{more}}

The total revenue and grants stood at $38.7 million compared to $26.3 million in 2011.

On the capital revenue, the figure for 2012 was $35.1 million, and $26.1 million in 2011; capital revenue and grants have also increased significantly reaching $3.6 million in January 2012 up from $186,000 in 2011.

Total expenditure stood at $31.2 million compared to $34.06 million in 2011 with the recurrent expenditure being $31.14 million compared to $34.0 million.

According to Prime Minister and Minister of Finance, Dr Ralph Gonsalves, personal emoluments went up for the period this year to $18.13 million compared to $17.3 million.

The interest in terms of expenditure was $1.4 million compared to $1.9 million in 2011.

The current account balance stood at $3.98 million, compared to $7.87 million and the overall balance recorded a surplus of $7.5 million up to January 31, 2012 compared to a $7.7 million deficit in 2011.

But while the numbers for January look good, Gonsalves cautioned that the corresponding figures as the year progressed may tell otherwise, which therefore meant a longer period of time was required in order to notice a trend and to give an accurate opinion on the fiscal performance of the state. (DD)