2020 Annual Economic and Financial Review

2020 Annual Economic and Financial Review

STATISTICAL TABLES

Table 45 St Vincent and the Grenadines - Central Government Fiscal Operations (In millions of Eastern Caribbean dollars)

2016ᴿ

2017

2018

2019ᴿ

2020ᴾ

592.58

592.95

596.40

600.41

605.26

Current Revenue

Taxes on Income and Profits

155.83

151.06

147.81

140.30

143.20

Individuals Corporate

77.80 64.89 13.14

81.16 56.07 13.84

77.88 54.30 15.63

82.82 43.93 13.55

84.74 45.40 13.06

Non Resident

Taxes on Property

45.11

56.13

37.43

27.11

40.82

Taxes on Domestic Goods and Services

234.24

244.48

256.34

279.83

274.62

of which: TelecommBroadcast licence

0.85

3.07

3.67

5.93

5.02

Excise Tax

41.32

41.58

41.29

40.70

51.66

Value Added Tax

153.85

160.67

170.68

189.41

177.95

Motor Vehicle Licence

13.11

13.67

14.14

14.48

14.82

Taxes on International Trade and Transactions

62.98

61.57

69.95

65.64

62.85

of which:

Import Duties

56.72

54.51

60.41

57.96

55.64

Other Revenue

94.42

79.72

84.87

87.53

83.76

518.08

565.22

572.96

601.49

638.01

Current Expenditure

Compensation of Employees

275.14

280.81

288.09

302.92

323.53

Use of Goods and Services

67.69

78.14

76.67

78.54

88.87

Interest Payments

42.73 14.93 27.79

49.74 18.62 31.12

52.09 20.26 31.84

54.21 19.20 35.01

51.56 19.08 32.48

Domestic

External

Transfers and Subsidies

118.74

132.30

133.57

144.47

145.53

of which: Other Grants and Contributions Employment Related Social Benefit

42.63 54.58

50.79 59.40

55.31 57.51

62.13 61.16

57.28 58.84

74.50

27.73

23.45

(1.08)

(32.75)

Current Account Balance

8.60

5.83

0.96

4.04

46.17

Capital Revenue

Grants

Of which: Capital Grants

8.35

44.63

39.68

61.42

50.04

78.16

122.56

98.89

130.52

188.00

Capital Expenditure

40.53 66.25

(39.26)

(22.39)

(73.35) (11.93)

(123.02)

Primary Balance before grants Primary Balance after grants

5.37

17.30

(72.98)

(89.00) (44.37)

(74.48) (34.80)

(127.56)

(174.58) (124.54)

Overall Balance before grants Overall Balance after grants

23.53

(66.14)

(23.53) (65.47)

44.37 52.58

34.80

66.14 54.69

124.54

Financing

Domestic

(30.39)

(252.87)

Central Banks (net)

(1.57)

0.77

3.85 7.26

(16.85) (49.15)

41.91 46.10

Commercial Banks (net)

(49.17) (14.73)

33.98 17.83 (8.82) (8.82) 55.83 64.65

Other

(41.50)

120.68

(340.88)

External

65.58 65.58

45.62 45.62

53.06 53.06

377.40 377.40 426.08

Net Disbursements/(Amortisation)

Disbursements

114.21

109.22

116.26

Amortisation

48.63

63.60

63.20

48.68

Change in Govt. Foreign Assets

0.00

0.00 0.61 0.61 0.00 0.00

0.00

0.00

0.00 0.00 0.00 0.00 0.00

Arrears

(23.64) (23.64)

19.57 19.57

(41.61) (41.61)

Domestic

External

0.00 0.00

0.00 0.00

0.00 0.00

Other Financing

Source: Ministry of Finance and Economic Planning, St Vincent and the Grenadines and Eastern Caribbean Central Bank Note: VAT is a tax on goods and services therefore all receipts including those payable on imports of goods and services have been consolidated under Taxes on Domestic Goods and Services

Data as at 10 February 2021

98