2020 Annual Economic and Financial Review

2020 Annual Economic and Financial Review

STATISTICAL TABLES

Table 30 Montserrat - Central Government Fiscal Operations (In millions of Eastern Caribbean dollars)

2016

2017

2018

2019

2020

47.00

47.06

50.30

51.70

52.19

Current Revenue

Tax Revenue

41.84

41.49

44.43

43.33

43.64

Taxes on Income and Profit

16.58

17.94

19.30

18.90

19.85

of which:

Personal

12.30

13.57

13.96

14.14

14.60

Corporation

3.41 0.74 5.15

3.73 0.65 4.89

4.11 0.61 5.49

2.59 0.74 5.21

2.59 0.63 4.68

Taxes on Property

Taxes on Domestic Goods and Services

of which: Insurance Company Levy Stamp Duty and Licenses

0.26 2.82

0.20 2.50

0.25 3.33

0.23 2.98

0.26 2.87

Taxes on International Trade and Transactions

19.37

18.01

19.02

18.48

18.48

of which:

Import Duty

6.99

6.36

6.14

6.08

6.93

Consumption Tax

11.37

10.89

11.99

11.64

10.84

Customs Service Charge

0.00 5.17

0.00 5.57

0.00 5.88

0.00 8.37

0.00 8.55

Non-Tax Revenue

114.25

118.11

129.84

136.83

139.94

Current Expenditure

Personal Emoluments Goods and Services

42.15 42.33

43.56 44.38

44.60 50.12

46.85 55.49

47.29 63.15

Interest Payments

0.03 0.00 0.03

0.02 0.00 0.02

0.03 0.00 0.03

0.16 0.00 0.16

0.26 0.08 0.18

Domestic

External

Transfers and Subsidies

29.75 11.68

30.15 12.43

35.09 11.63

34.32 13.58

29.26 12.41

of which: Pensions

(67.25)

(71.05)

(79.53)

(85.13)

(87.75)

Current Account Balance (before grants)

Current Grants

74.39

76.48

78.00

77.70

90.87

7.14

5.43

(1.53)

(7.42)

3.12

Current Account Balance (after grants)

Capital Grants

13.20

15.00

4.11

0.23

16.10

20.98 20.90

18.53 16.14

13.48 13.43

15.85 15.76

27.93 27.06

Capital Expenditure and Net Lending

of which: Capital Expenditure

(88.23)

(89.58)

(93.02) (10.88)

(100.98)

(115.67)

Primary Balance (before grants) Primary Balance (after grants)

(0.61)

1.92

(22.88)

(8.47)

(88.23)

(89.58)

(93.02) (10.91) 10.91 10.97 (0.45) (5.07)

(100.98)

(115.71)

Overall Balance (before grants) Overall Balance (after grants)

(0.64)

1.90

(23.04)

(8.73)

0.64 0.67

(1.90) (4.17)

23.04 23.07

8.73 9.24 0.12

Financing

Domestic

ECCB (net)

(0.20)

0.97 5.65

0.22 8.31

Commercial Banks (net)

6.48

(9.23)

Other

(5.61) (0.04) (0.04)

(10.79)

16.49

14.54

18.35

External

2.27 2.27 2.39

(0.07) (0.07)

(0.03) (0.03)

(0.50) (0.50)

Net Disbursements/(Amortisation)

Disbursements

0.08

0.05

0.09

0.00

Amortisation

(0.12)

(0.12)

(0.12)

(0.12)

(0.50)

Change in Govt. Foreign Assets

- - - -

- - - -

- - - -

- - - -

- - - -

Arrears

Domestic

External

Source: Ministry of Finance and Economic Management, Montserrat and Eastern Caribbean Central Bank Data as at 23 February 2021 Data is actual

83