Economic and Financial Review June 2021 - SAINT VINCENT AND THE GRENADINES

Table V1 Saint Vincent and the Grenadines - Central Government Fiscal Operations (In millions of Eastern Caribbean dollars) Saint Vincent and the Grenadines - Central Government Fiscal Operations (In millions of Eastern Caribbean dollars) Table V1

ᴾ

ˢᵗ ᵑᵈ

ʳᵈ ᵗʱ

January to June

Average 2015 to 2019

Average 2016 to 2020

2017

2018

2019

2020

2021

$

$

263.18

268.20

283.13

282.84

314.86

265.46

273.61

Current Revenue

Taxes on Income and Profits

72.41 41.62 21.27

64.68 40.19 18.30

65.24 40.37 17.29

66.70 42.80 18.54

67.11 42.49 17.91

66.31 39.41 19.44

67.62 40.81 19.97

Individuals Corporate

Non Resident

9.51

6.19

7.58

5.36

6.70

7.46

6.84

Taxes on Property 1

12.12

9.31

11.46

11.22

60.80

13.82

12.85

Of which: Propert Tax

1.06

1.56

1.23

0.91

1.19

1.17

1.21

Taxes on Domestic Goods and Services*

117.58

122.01

132.70

137.97

128.99

120.66

125.41

Of which: TelecommBroadcast licence

2.99

0.90

5.80

3.32

3.55

2.90

2.76

Excise Tax

20.28 79.85

20.74 84.70

15.70 92.51

24.72 90.66

21.28 86.17

18.16 82.14

20.05 84.76

Value Added Tax

Motor Vehicle Licence

6.67

7.38

7.28

7.38

7.75

6.62

7.01

Taxes on International Trade and Transactions

27.06

34.61

30.84

27.86

28.07

28.30

29.88

Of which: Import Duty

24.18

29.02

27.11

24.55

24.93

25.88

26.11

34.03

37.60

42.90

39.08

29.90

36.38

37.85

Other Revenue

271.97

276.47

294.21

307.19

316.06

269.24

281.18

Current Expenditure

Compensation of Employee

138.72

142.75

150.11

158.77

166.29

140.01

145.50

Use of Goods and Services

30.09

29.57

32.55

37.41

37.33

30.04

31.56

Interest Payments

22.72

25.62

25.89

25.23

23.59

23.72

24.09

Domestic External

8.30

9.29

9.08

9.53

6.44

8.84

8.61

14.42

16.33

16.80

15.70

17.15

14.88

15.47

Transfers

68.64

68.19

73.26

72.60

75.55

67.03

69.22

Of which: Other Grants and Contributions Employment Related Social Benefit

29.50 28.68 11.80

29.69 28.49 10.35

31.87 30.92 12.40

32.00 28.62 13.18

33.55 28.52 13.29

29.07 27.95

29.77 28.78 10.81

8.44

Other Expenses

(8.79)

(8.27)

(11.08)

(24.35)

(1.19)

-

-

Current Account Balance

7.43

15.36

7.60

6.57

44.29

9.28

8.96

Capital Revenue and Grants

17.14

11.97

16.22

42.10

71.53

20.35

22.32

Capital Expenditure

4.23

20.74

6.19

(34.64)

(4.85)

-

-

Primary Balance

(18.49)

(4.88)

(19.70)

(59.88)

(28.43)

-

-

Overall Balance

18.49 10.27 11.24 13.55 17.12 17.12 47.32 30.20 (14.52)

4.88

19.70 20.52 17.60 33.54 (30.62) (16.98) (16.98)

59.88

28.43 45.12 13.65 54.31 (22.83) (16.68) (16.68)

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

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

Financing Domestic

(40.02) (9.92)

(155.91) (14.58)

ECCB (net)

Commercial Banks (net)

6.19

60.26

Other

(36.30)

(201.59)

External

37.10 37.10 63.71 26.61

215.78 215.78 242.63 26.84

Net Disbursements/(Amortisation)

Disbursements Amortisation

10.94 27.92 16.16 16.16 -

-

16.68

Change in Government Foreign Assets

-

-

- - - - -

- - - - -

Arrears

(8.89) (8.89)

7.81 7.81

Domestic

External

- -

- -

- -

Other Financing

Source: Ministry of Finance and Economic Planning, St Vincent and the Grenadines and the Eastern Caribbean Central Bank Data submitted by MoF, St Vincent and the Grenadines are now classified according to the Government Finance Statistics Manual 2014 for quarter 1 of 2014-current *Based on international best practice of economic classification, 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

August 30, 2021

Economic and Financial Review - June 2021 | 8