SVG current revenue for 2015 considerably lower than 2014

The current revenue for this country in 2015 is considerably lower than the figures for 2014.

This was revealed during a sitting of Parliament last Tuesday, when Prime Minister Dr Ralph Gonsalves reported on the fiscal out-turn up to the end of June 30, 2015, as compared to those in 2014 for the same period.{{more}}

The current revenue for 2015 at the end of June 30 is $242.4 million, while last year’s figures were recorded as $252.4 million.

“I just want to say that there were some special numbers, particularly why last year’s numbers were elevated, because for instance, we got a one-off payment for four years from Mustique Company,” Gonsalves said. “Those revenues are not available for this year and for next year and so on until that period is exhausted.”

The Prime Minister, who also has responsibility for this country’s finances, stated that the total revenue and grants ending June 2015 were $256.3 million. In 2014, at the end of the same period, the figure was $256.78 million.

He added that the total expenditure saw an increase of 4.8 per cent, sitting at $280.5 million at the end of June 2015, as compared to $267.5 million for the same period last year. Also, current expenditure for 2015 is $247.5 million, a 2.1 per cent increase on 2014’s figure of $242.47 million.

The Finance Minister stated that the current balance as at the end of June this year was $5.1 million in deficit. In 2014, the current balance was $9.94 million for the same period and the overall balance for 2015 was $24.1 million deficit, while 2014 figures reflected a $10.8 million deficit for the same period. (BK)