Annual Economic and Financial Review -December 2018

2018 Economic and Financial Review

ST ATISTICAL TABLES

Table 40 St Vincent and the Grenadines - Central Government Fiscal Operations (In millions of Eastern Caribbean dollars)

2014

2015

2016

2017

2018ᴾ

Current Revenue

535.19

518.82

592.58

582.64

594.57

Taxes on Income and Profits

140.03 71.65 40.18 28.21

129.70 70.43 46.31 12.96

155.83 77.80 64.89 13.14

150.93 81.07 56.08 13.79

147.65 77.80 54.29 15.56

Individuals Corporate

Non Resident

Taxes on Property

34.49

29.02

45.11

50.76

37.43

Taxes on Domestic Goods and Services

181.55

201.02

234.24

232.89

254.91

of which: TelecommBroadcast licence

4.17

7.43

0.85

3.07

3.67

Excise Tax

33.04 110.83 10.17

35.29 115.14 10.79

41.32 153.85 13.11

41.42 149.29 13.66

41.26 170.29 14.14

Value Added Tax

Motor Vehicle Licence

Taxes on International Trade and Transactions

79.34

84.07

62.98

71.26

69.76

of which:

Import Duties

49.35

52.27

56.72

54.10

60.23

Other Revenue

99.77

75.01

94.42

76.79

84.82

Current Expenditure

508.92

512.90

514.63

563.61

573.53

Compensation of Employees

260.11

268.87

275.14

280.81

288.02

Use of Goods and Services

73.95

73.26

64.24

78.14

73.95

Interest Payments

45.67 18.37 27.29

44.84 17.97 26.87

42.73 14.93 27.79

49.74 18.62 31.12

49.89 18.87 31.02

Domestic External

Transfers and Subsidies

122.31

120.12

118.74

132.30

139.14

of which: Other Grants and Contributions Employment Related Social Benefit

54.59 46.45

51.73 49.00

42.63 50.84

50.79 59.40

60.73 57.51

Current Account Balance

26.27

29.32

77.95

19.02

21.04

Capital Revenue

9.46

26.09

20.26

5.83

0.96

Grants

Of which: Capital Grants

9.34

28.02

25.72

28.67

23.49

Capital Expenditure

107.62

86.24

78.16

88.65

68.39

Primary Balance before grants Primary Balance after grants Overall Balance before grants Overall Balance after grants

(34.26)

(10.96)

62.77 88.50 20.05 45.77

(14.06)

3.51

5.22

40.46

14.61

27.00

(55.79) (4.37)

(63.79) (35.12)

(46.39) (22.89)

(40.45)

Financing

40.45

4.37

(45.77) (87.71) (1.57) (49.17) (36.97)

35.12 43.33

22.89

Domestic

(120.86)

(52.30)

(20.19)

Central Banks (net)

2.18

6.73

0.77

3.85 7.26

Commercial Banks (net)

22.35

15.82

33.98

Other

(145.38)

(74.85)

8.58

(31.30)

External

150.04 150.04 192.51 42.47

85.65 85.65

65.58 65.58

(8.82) (8.82)

23.52 23.52 87.12 63.60 19.57 19.57 0.00

Net Disbursements/(Amortisation)

Disbursements Amortisation

131.19 45.54

114.21 48.63

55.83 64.65

Change in Govt. Foreign Assets

0.00

0.00

0.00

0.00 0.61 0.61 0.00 0.00

Arrears

11.26 11.26

(28.98) (28.98)

(23.64) (23.64)

Domestic External

0.00 0.00

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 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 14 February 2019

______________________________________________________________________________ 160 Eastern Caribbean Central Bank