Prime Minister, Dr Ralph Gonsalves has noted that there has been no windfall as was the case last year, to improve this country’s financial outlook.

He made the point while speaking on NBC Radio on Wednesday May 11, where among other things, the prime minister gave an update on the finances of the state.

Last year, the government received a ‘windfall’ of nearly $100 million dollars.

This was due mainly to money collected for Aliens Landholding Licenses and transfer taxes from the sale of properties on the Grenadine island of Mustique.
According to Gonsalves, Current Revenue increased by 1.7% for the first four months in 2022.

So far, taxes on goods and services have increased by 20%, with a 19% increase in taxes on international trade.

Import duty also increased by 22% and Value Added Tax by 19%.

“More things are coming in and prices have gone up,” Dr Gonsalves explained.

According to the Prime Minister, there is also an increase in the sales of goods and services, which went up “significantly” by 47%.

He noted that the broad base of the revenue is doing better this year than last year, up to the end of April.

Gonsalves also disclosed that there is a deficit on the Current Accounts of $6.7 million and a $15 million overall deficit.