Economic and Financial Review - June 2021: MONTSERRAT

Table M1 Montserrat - Central Government Fiscal Operations (In millions of Eastern Caribbean dollars) Table M1 Montserrat - Central Government Fiscal Operations (In millions of Eastern Caribbean dollars)

January to June

Average 2015 to 2019

Average 2016 to 2020

2017

2018 2019 2020 2021

24.77 26.73 25.18 25.80 23.98 24.78 25.17

Current Revenue

Tax Revenue

22.11 23.83 22.26 21.16 21.06 21.82 22.08

Taxes on Income and Profits

10.18 11.00

9.82 10.56

9.89

9.90 10.25

Of which:

Personal

6.95 2.82 0.05 2.66 1.54 0.03 0.10

7.17 3.23 0.10 3.40 1.75 0.01 0.09

7.35 1.86 0.13 3.27 1.54 0.02 0.12

7.17 1.78 0.05 2.93 1.45 0.02 0.15

7.29 1.12 0.09 2.97 1.53 0.02 0.10

6.75 2.62 0.09 2.87 1.57 0.02 0.11

6.97 2.52 0.09 2.95 1.56 0.02 0.12

Company/Corporation

Taxes on Property

Taxes on Domestic Goods and Services

Of which: Licences and Stamp Duties

Hotel Occupancy

Insurance Company Levy

Taxes on International Trade and Transactions

9.22

9.33

9.03

7.62

8.12

8.96

8.79

Of which:

Import Duty

3.34 5.50

3.17 5.74

2.88 5.74

2.91 4.43

3.11 4.78

3.07 5.40

3.09 5.29

Consumption Tax

Non-Tax Revenue

2.66

2.89

2.92

4.63

2.91

2.96

3.09

64.42 65.88 66.72 66.99 67.34 62.74 63.99

Current Expenditure

Personal Emoluments Goods and Services* Interest Payments

21.38 22.18 23.27 23.46 23.99 21.75 22.28 22.89 24.91 26.00 30.46 28.67 23.17 24.94

0.13 0.08 0.06

0.12 0.05 0.07

0.15 0.05 0.09

0.13 0.05 0.08

0.17 0.07 0.11

0.11 0.04 0.07

0.12 0.05 0.07

Domestic External

Transfers and Subsidies

20.01 18.68 17.29 12.94 14.51 17.71 16.65

Of which: Pensions

6.57

5.78

6.65

6.30

7.46

6.26

6.26

(39.65) (39.16) (41.53) (41.19) (43.37) (37.96)

(38.83) (8.68)

Current Account Balance before grants Current Account Balance after grants

(24.30)

1.90 (8.24)

(8.23)

(9.94)

(3.73)

-

-

-

-

-

-

-

Capital Revenue

24.28 45.15 33.38 39.70 51.51 44.88 36.65

Grants

Of which: Capital Grants

8.94

4.09

0.09

6.74 18.08 10.65

6.51

8.40 6.08

6.76 6.71

7.20 19.62 10.35 7.11 18.75 10.35

9.27 10.48

Capital Expenditure and Net Lending

Of which: Capital Expenditure Primary Balance before grants Primary Balance after grants Overall Balance before grants Overall Balance after grants

8.78

9.81

(47.91) (45.80) (48.59) (60.69) (53.54)

- - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - -

(23.63)

(0.66) (15.21) (20.98)

(2.03)

(48.05) (32.78) (22.36) (33.70) (20.01)

11.85 (31.83)

43.96 (12.22)

10.01

23.77 21.70 (0.60) 29.86 (7.56)

0.78 15.36 21.11 0.97 15.52 21.36

2.21 2.46

Financing

Domestic

ECCB (net)

(0.08)

0.60

0.45 (0.11)

Commercial Banks (net)

4.03 13.52 22.44 10.93

Other

(2.98)

1.40 (1.53)

(8.36) (0.25) (0.25)

External

2.06 (0.20) 2.06 (0.20)

(0.16) (0.16)

(0.25) (0.25)

Net Disbursements/(Amortisation)

Disbursements Amortisation

2.32

0.05

0.09

0.00

0.00

(0.25)

(0.25)

(0.25)

(0.25)

(0.25)

Change in Government Foreign Assets

0.00

0.00

0.00

0.00

0.00

Arrears

- - -

- - -

- - -

- - -

- - -

Domestic External

Other Financing

-

-

-

-

-

-

-

Source: Ministry of Finance and Economic Management, Montserrat and ECCB Estimates *Goods and Services include Miscellaneous Payments

Data as at 23 August 2021 Actual data up to June 2021.

Economic and Financial Review - June 2021 | 8