Economic and Financial Review - June 2019

June 2019 Economic and Financial Review STATISTICAL TABLES

Table 50 St Vincent and the Grenadines - Central Government Fiscal Operations (In millions of Eastern Caribbean dollars)

2018 2ᵑᵈ Qr

2018 2018

2019 2019ᴾ

2018 2019ᴾ

3ʳᵈ Qr

4ᵗʱQr

1ˢᵗ Qr

2ᵑᵈ Qr Jan - Jun Jan - Jun

Current Revenue

154.81 163.85 161.38 134.05 149.14 269.34 283.20

Taxes on Income and Profits

40.89 41.81 41.16 27.19 38.06 22.01 17.39 20.22 18.88 21.49

64.68 65.25 40.19 40.37 18.30 17.29

Individuals Corporate

15.76 18.40 17.59

4.51 12.78

Non Resident

3.12

6.02

3.35

3.80

3.79

6.19

7.58

Taxes on Property 1

5.64 13.37 14.76

6.07

5.39

9.31 11.46

Of which:

Propert Tax

0.93

1.99

1.02

0.60

0.64

1.56

1.23

Taxes on Domestic Goods and Services

65.89 70.57 62.34 64.85 67.86 122.01 132.71

Of which: TelecommBroadcast licence

0.90

2.73

0.04

4.85 8.27

0.95 7.43

0.90

5.80

Excise Tax

11.57 44.62

9.13 11.39

20.74 15.70

Value Added Tax

40.55

45.04

44.85

47.77

84.70

92.62

Motor Vehicle Licence

4.49

3.73

3.03

3.18

4.11

7.38

7.29

Taxes on International Trade and Transactions

21.22 15.49 19.65 14.85 15.99

34.61 30.84

Of which:

Import Duty

17.06 13.63 17.58 12.99 14.12

29.02 27.11

Other Revenue

21.16 22.62 23.46 21.10 21.85

38.74 42.95

Current Expenditure

145.73 142.71 154.35 141.30 153.90 276.47 295.20

Compensation of Employee

71.67 71.25 74.02 75.60 75.47 142.75 151.07

Use of Goods and Services

18.42 20.13 24.25 13.32 19.27

29.57 32.58

Interest Payments

15.71 10.43 13.84 12.17 13.72

25.62 25.89

Domestic External

4.96

5.17 5.26

4.41 9.43

5.23 6.94

3.85 9.86

9.29

9.08

10.74

16.33 16.80

Transfers

34.32 35.02 35.92 34.49 38.77

68.19 73.26

Of which: Other Grants and Contributions Employment Related Social Benefit

15.37 15.93 15.11 13.05 18.82 13.58 13.67 15.35 16.37 14.55

29.69 31.87 28.49 30.92

Current Account Balance

9.08 21.14

7.03 (7.25)

(4.76)

(7.13) (12.01)

Capital Revenue and Grants

13.53

4.55

4.54

2.44

5.16

15.36

7.60

Capital Expenditure

10.47 21.37 35.05

3.32 33.27

11.97 36.59

Primary Balance

27.85 14.75 (9.63)

4.05 (19.16)

21.88 (15.11)

Overall Balance

12.14

4.32 (23.47)

(8.12) (32.87)

(3.74) (41.00)

Financing

(12.14) (39.75) (31.55) (3.10) (5.10)

(4.32) (11.87) (10.22)

23.47 12.79 23.96 (6.91) (4.26)

8.12 NA() NA() NA() NA() (8.60) (8.60)

32.87 NA() NA() NA() NA() 24.98 15.89 22.91 22.91 - 9.09 9.09

3.74

41.00 24.35 17.60 37.37 (30.62)

Domestic

(21.12) (9.90)

ECCB (net)

Commercial Banks (net)

7.98

6.19

Other

(9.62)

(17.42)

External

22.92 22.92 36.86 13.95

3.82 3.82

2.64 2.64

17.05 17.05 43.67 26.61

0.49 0.49

Net Disbursements/(Amortisation)

Disbursements Amortisation

20.58 16.76

22.86 20.22

3.44

28.41 27.92 16.16 16.16 -

12.04

Change in Government Foreign Assets

-

-

-

-

-

Arrears

4.69 4.69

3.73 3.73

8.03 8.03

(6.76) (6.76)

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 Note: The classification of Government Finance Statistics was changed in the first quarter of 2016 1/ For St Vincent and the Grenadines, this item includes property tax, alien land holding license and stamp duty on property Data as at 26 August 2019 *Based on international best practice of economic classification, VAT is a tax on goods and services;

147

Eastern Caribbean Central Bank