Economic and Financial Review June 2021 - SAINT CHRISTOPHER AND NEVIS

Table K1 St Kitts and Nevis - Central Government Fiscal Operations (In millions of Eastern Caribbean dollars) Table K1 St Kitts and Nevis - 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

341.40

458.71

579.04

380.13

480.37

444.12

433.59

Current Revenue

Tax Revenue

243.83

254.00

263.36

224.60

204.31

253.50

247.06

Taxes on Income and Profits

67.64

69.95

78.10

66.46

61.68

69.74

69.87

Of Which: Personal

26.17 31.71

24.78 33.41

25.62 40.60

24.96 31.83

22.71 33.57

25.69 33.84

25.56 33.85

Company/Corporation

Taxes on Property

7.55

8.79

8.96

3.62

7.54

9.45

7.94

Taxes on Domestic Goods and Services

98.05 100.45

102.07

90.99

80.38

102.50

98.68

Of Which: Licences

4.60

4.97

5.17

4.32

3.92

4.74

4.75

Value Added Tax

72.52 11.18

77.03

76.17 10.64

66.47 10.36

56.21 12.80

74.39 13.85

72.33 11.91

Stamp Duties

8.24 3.89 2.52

Unincorporated Business Levy Island Enhancement Levy

3.04 2.52

4.07 2.64

3.25 1.69

1.76 0.44

3.52 2.58

3.54 2.34

Taxes on International Trade and Transactions 70.58

74.81

74.23

63.53

54.71

71.81

70.57

Of Which:

Import Duty

30.69 21.21

33.28 22.82

33.35 21.85

30.07 18.45

27.11 16.21

30.77 21.82

31.59 21.13

Customs Service Charge

Excise Tax

7.03 2.41

6.62 3.27

7.00 2.99

4.93 1.80

5.66 0.34

8.70 2.65

6.92 2.46

Non-Refundable Duty Free Store Levy

Non-Tax Revenue

97.57 47.40

204.72 154.32 329.35 142.54 90.58 21.24 16.37

315.69 270.58 346.61 147.87 94.34 17.76 13.28

155.53 119.61 378.17 150.64 110.30 18.19 13.67

276.06 233.11 361.34 151.81 100.61

190.61 144.29 319.71 138.81 78.96 21.51 16.40

186.53 141.03 333.40 143.70 86.04 20.27 15.65

Of which: Citizenship by Investment

299.86 140.52 68.60 21.99 17.77

Current Expenditure Personal Emoluments Goods and Services

Interest Payments

14.50 10.65 94.41 25.57 3.85

Domestic External

4.23

4.87

4.47

4.53

5.10

4.62

Transfers and Subsidies Of Which: Pensions

68.74 18.23

75.00 19.52

86.64 23.85

99.04 24.19

80.43 18.74

83.39 20.47

41.54 129.36 232.44

1.96 119.04

124.40

100.20

Current Account Balance

4.60

5.46

3.75

3.22

9.52

4.24

4.02

Capital Revenue

32.76 23.42 20.69 31.80 28.34

26.66 13.57 60.13 60.12

26.17 10.49 55.73 60.01

Grants

Of which: Capital Grants

27.57

8.36

4.90

2.51

5.51

59.89 52.50 77.64 65.27 67.52 60.09 52.55 77.96 65.56 67.73

Capital Expenditure and Net Lending

Of which: Capital Expenditure

41.01 126.98 197.00 (10.11) 103.87

116.69

94.92

Primary Balance after grants

19.02 105.74 179.24 (28.30)

89.37

95.18

74.66

Overall Balance after grants

(19.02) (105.74) (179.24)

28.30 (89.37) 38.87 (79.99)

(95.18) (72.69)

(74.66) (58.26)

Financing

Domestic

(6.40) (0.31)

(94.10) (170.85)

ECCB (net)

5.39 40.97 (6.04)

19.65

13.54

5.19 2.24

Commercial Banks (net)

14.98 (103.59) (45.62) 195.21 (53.09)

(203.46) 117.23 (22.49) (22.49)

Other

(21.07) (12.62) (12.62)

4.10 (166.20) (150.30) (46.55)

(65.69) (16.39) (16.39)

External

(11.65) (11.65)

(8.39) (10.57) (8.39) (10.57)

(9.38) (9.38)

Net Disbursements/(Amortisation)

Disbursements Amortisation

0.61

0.14

1.82

1.44

1.94

0.81

0.91

13.23 11.79 10.21 12.01 11.32

23.30

17.30

Change in Government Foreign Assets

- - - - -

- - - - -

- - - - -

- - - - -

- - - - -

- - - - -

- - - - -

Arrears

Domestic External

Other Financing

Source: Ministry of Finance, St Kitts and Nevis and ECCB Estimates Data as at 12 August 2021

Economic and Financial Review - June 2021 | 8