The Fiscal Reports for the months of April, May and June have shown that the Government of Grenada earned more than the targeted revenue as projected in the 2021 Estimate of Revenue.
For the 3-month period total revenue collections equalled EC$175.9 million, $18.6 million above target or $32.7 million more than revenues collected for the comparable 3-month period in 2020. International transaction yielded the most revenue, with Customs and Excise collecting more than EC$80 million during those 3 months under review. Equally, for the 3-month period expenditure exceeded targets by $8.4 million and totalled some $167.9 million excluding principal repayments on debt. According to the Annual Debt Report for 2020, the total public debt amounted to $1,988.5 million or 70.6% of GDP.
“Based on a preliminary in-house debt sustainability analysis conducted, public debt is projected to decrease over the medium term (2021 – 2023) moving from 65.7% of GDP in 2021 to 62.7% in 2023,” the report said. Debt repayment for 2020 totaled EC$ 272.3 million. From that amount Interest payment was $55.9 million and principal payment $216.4 million. (NOW)
Extract from CARICOM BUSINESS Newsletter Vol 4 No 31
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