June 2020 Economic and Financial Review

June 2020 Economic and Financial Review

ANGUILLA

financed partly by capital revenue, which

Anguilla Public Finance

EC$M

-20.0 -10.0 0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0

totalled $0.8m.

Banking Sector Developments

Anguilla Monetary Survey Percentage Change

(M2) %

(NFA)%

-10.0 -8.0 -6.0 -4.0 -2.0 0.0 2.0 4.0 6.0 8.0 10.0

25.0

18 Q1 18 Q2 18 Q3 18 Q4 19 Q1 19 Q2 19 Q3 19 Q4 20 Q1 20 Q2

20.0

15.0

10.0

Recurrent Revenue Recurrent Expenditure Current Account Balance

5.0

0.0

Developments on the current account gave

-5.0

-10.0

rise to a current account deficit of $14.9m in

19 Q1

19 Q2

19 Q3

19 Q4

20 Q1

20 Q2

contrast to a surplus of $26.2m in the

Money Supply (M2)

Net Foreign Assets

During 2020, Broad Monetary liabilities

corresponding period of 2019. Current

(currency in circulation and deposits)

revenue fell by 39.8 per cent to $76.3m,

declined by 19.6 per cent to $873.2m,

reflecting declines in all of the broad

categories of taxes – incomes and profits

largely due to a fall in foreign currency

($1.6m), property ($3.1m), domestic goods

The net foreign assets

deposits ($178.0m).

and services ($11.5m) and international

of the banking system rose by 5.3 per cent

trade and transactions ($29.9m). Non-tax

to $645.0m, following an increase of

revenue also declined by $4.3m to $13.7m.

15.5 per cent in 2019. Net domestic assets

In adjusting to the steep drop in revenue,

(credit) fell by 51.7 per cent to $228.2m,

mainly due to lower claims 4 (credit) on

current expenditure was contained, falling

by 9.3 per cent to $91.2m. contractions in

households and businesses. The net

expenditure were noted for transfers and

liabilities position of the government

subsidies ($3.7m), goods and services

declined to $50.2m from $66.7m at the end

($3.1m), and interest payments ($2.9m). In

of December 2019. Outstanding credit

contrast, the amount spent on personal

amounted to $566.3m at the end of

emoluments rose by $0.3m. Capital

June 2020. Credit allocation was highest for

expenditure increased by $1.9m to $3.3m,

private households; real estate activities;

4 Due to a change in methodology in compiling the monetary, the nomenclature changed to ‘claims’ from ‘credit’

16

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