May 23, 2014
SVG not out of woods yet – Gonsalves

Prime Minister Dr Ralph Gonsalves has noted that while the Government of St Vincent and the Grenadines is “holding it together,” it is not yet “out of the woods.”{{more}}

He made this comment in relation to the fiscal operations of the Government for the first four months of 2014.

During a press conference on Monday, Gonsalves indicated that the total revenue and grants for the period up to April 30, 2014 was $174.86 million, compared to $147.9 million for the same period in 2013.

The current revenue was $174.4 million, in comparison to $144.9 million in 2013, while the total expenditure was $179.3 million in 2014 as compared with $169.7 million in 2013.

Gonsalves also pointed out that the recurrent expenditure for the first four months of 2014 was $161.5 million while in the same period in 2013, it was $159.8 million.

This year, capital expenditure amounted to $17.7 million at the end of April, as compared to the $9.9 million last year.

Also, the current balance was $12.9 million for 2014, while last year’s figure was $14.8 million and the overall deficit for this year is $4.4 million, while last year’s figure amounted to $21.8 million.

“So, you notice we holding it, but we not out the woods yet,” the Prime Minister said.(BK)