House hears of improved fiscal performance for first half of 2012

There has been a slight improvement in this country’s fiscal performance for the first half of 2012.{{more}}

This, according to Prime Minister Dr Ralph Gonsalves, at the last sitting of the House of Assembly on Tuesday, in response to a question by Opposition Leader Arnhim Eustace.

The overall deficit for 2012 up to June 30 was $26.3 million, compared to $45.8 million in 2011.

According to the Prime Minister, the government had anticipated a deficit of $15.8 million.

“But we are a little outside that budgeted figure but doing much better than 2011,” the prime minister said.

The figures for 2012 are as follows:

Total revenue and grants were up 3.6 per cent, from $215.7 million in 2011 to $223.5 million in 2012; the current revenue went up 4.4 per cent, moving from $209.9 million in 2011 to $219.1 million.

Total expenditure went down from $261 million last year to $249.8 million in 2012.

The current expenditure also showed a 4.8 per cent decline, from $247.5 million in 2011 to $235.6 million in 2012.

And the overall deficit stood at $26.3 million in 2012, compared to $45.8 million last year.

The capital was $14.3 million in 2012, compared to $14 million in 2011. (DD)