Fiscal report shows slight improvement

As at the end of July, 2015, there was a small overall improvement in the fiscal situation of the country, when compared with the same period last year.

Responding to a question asked in Parliament by Leader of the Opposition Arnhim Eustace, Prime Minister and Minister of Finance Dr Ralph Gonsalves said this year, current revenue and grants were $315.023 million, which is an increase of almost two per cent over the July 31, 2014 figure of $309.976 million.{{more}}

Capital revenue and grants at the end of July 2015 were $14.987 million, while in 2014, the figure was $8.768 million for the period ending July 2014.

Additionally, total expenditure was $336.627 million, as compared to $343.7 million last year. Recurrent expenditure was 298.6 million at the end of July, 2015 while in 2014 it was reported to be 297.39 million.

Capital expenditure saw an decrease in 2015, being 38 million, compared to last year’s figure of 46 million.

At the end of July, the country’s current balance stood at 1.4 million, compared to 2.8 million last year. This year, the primary balance stands at 3.4 million, compared with last year’s figure of -8.9 million. The overall balance for this year was deficit 21.6 million compared to a deficit of 33.7 million for the previous year.