News

Grenada: Almost EC$90 millon reduction in revenue from March to August

The monthly fiscal summary reports from the Ministry of Finance for the period March to August 2020 show that the reduction in revenue because of Covid-19 measures, was approximately EC$90 million while at the same time, there was an increase in grants.

“Current revenue for March 2020 was $68.9 million, which was $2.7 million lower than the target and $0.9 million more than the collections for March 2019.” The report pointed out that total grants received in March 2020 amounted to $6.4 million, which was $0.3 million more than the amount received in March 2019.

“Total current expenditure for the month of March was $57.2 million, $3.6 million more than the amount spent in March 2019 and $3.1 million more than the targeted $54.1 million.” The summary report is available on the Ministry of Finance website. A primary surplus (including grants) of $16.8 million was realised for the month of March 2020, which was less than both the targeted $21.5 million and the $20.6 million surplus recorded in March 2019.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s