Annual Economic and Financial Review -December 2018

2018 Economic and Financial Review

ST ATISTICAL TABLES

Table 2 ECCU - Consolidated Central Government Fiscal Operations (In millions of Eastern Caribbean dollars)

2014 R

2015 R

2016 R

2017 R

2018 P

CURRENT REVENUE

4,103.4 3,326.8

4,361.8 3,549.1

4,787.5 3,774.2

4,731.1 3,830.9

5,265.9 4,079.7

Tax Revenue

Taxes on Income and Profits 1/

703.8

773.4

836.1

851.3

875.3

of which:

Personal /1 Company /2

344.1 257.3

357.2 319.9

366.9 379.3

353.4 405.7

346.2 421.0

Taxes on Property

114.5

113.6

128.1

139.2

130.5

Taxes on Domestic Goods & Services

1,544.6

1,591.2

1,692.7

1,665.6

1,789.7

of which:

Accommodation Tax

19.0 97.8

19.4 92.9

17.7 97.4

20.6 95.6

6.5

Licenses Sales Tax /3

84.7

229.2

231.7

251.0

236.9

278.3

Consumption Tax /4 Value Added Tax /5

0.4

0.3

0.1

0.0

-

900.1 111.4

927.4 102.6

992.1 109.0

962.6 110.1

1,071.1

Stamp Duties

97.7

Taxes on International Trade & Transactions

963.9

1,071.0

1,117.3

1,174.9

1,284.1

of which:

Consumption Tax /6

52.0

75.3

89.8

75.7

65.4

Import Duties

446.6 210.5 776.6 370.3

470.2 227.5 812.6 493.5

498.9 236.0

503.3 243.3 900.2 513.7

561.0 281.9

Customs Service Charge

Non-Tax Revenue

1,013.3

1,186.2

635.5

778.3

of which: Citizenship by Investment

CURRENT EXPENDITURE

3,876.2 1,719.8

3,926.1 1,712.6

4,154.3 1,831.3

4,370.3 1,857.1

4,684.9 1,965.5 1,067.8

Personal Emoluments Goods and Services Interest Payments

783.9 480.3 272.9 207.5 885.3 283.9

781.0 452.1 250.2 201.9 974.5 288.7

823.3 459.4 249.3 210.1

901.0 461.0 245.7 215.3

468.5 249.9 218.7

Domestic External

Transfers and Subsidies

1,026.5

1,128.6

1,160.5

Pensions

305.7

332.2

323.7

Other Expenses

6.9

5.8

13.8

22.6

22.5

Current Account Balance (before grants)

227.23

435.71

633.24

360.79

581.03

Capital Revenue

37.7

101.3

200.2

25.1

38.6

Grants

478.3 112.0 366.3 901.7 901.0

436.8 138.9 297.9 866.6 840.7

349.3 140.9 208.3 788.1 764.4

388.9 121.1 267.8 884.2 882.5

372.0 136.8 235.2 978.9 978.6

Current Grants Capital Grants

Capital Expenditure and Net Lending

Captial Expenditure

Primary Balance after grants

321.89

559.23

853.94

351.58

481.17

Overall Balance after grants

(158.4)

107.1

394.5

(109.5)

12.7

Financing Domestic

158.4

(107.1) (499.7) (60.4)

(394.5) (448.0) (41.8) (279.8) (126.3)

109.5

(12.7) (61.4) (37.8)

(150.6) (63.7)

9.3

ECCB(net)

(2.6)

Commercial Banks(net)

139.1

(1,094.6)

(114.4)

157.8

Other

(226.0)

655.2 217.0 139.6 602.4 462.8

126.3

(181.4) (43.3) (39.1)

External

194.5 203.0 573.1 370.1

25.3 36.5

27.8 27.5

Net Disbursments/ (Amortisation)

Disbursement Amortisation

486.3 449.8 (11.2)

558.8 531.4

640.2 679.2

Change in Govt. Foreign Assets Other Foreign Financing 7/

(8.6)

77.4

0.4

(4.2)

-

-

-

-

-

Arrears

114.6

23.2

(2.3)

72.3 34.8 37.5

92.1 33.5 58.5

Domestic External

26.6 88.0

(14.2)

(25.9)

37.4

23.6 30.4

Other Financing (residual)

-

152.3

-

-

Source: ECCU Ministries of Finance and Eastern Caribbean Central Bank /1 Taxes on Income & Profits include stabilization levy collected in Anguilla and Social Services Levy in St Kitts and Nevis /2 Excludes Anguilla /3 Includes Antigua and Barbuda and Dominica /4 Excludes Montserrat /5 Excludes Anguilla, Antigua and Barbuda, Montserrat /6 Excludes St Vincent and the Grenadines /7 Excludes Montserrat, St Kitts and Nevis and Saint Lucia Data as at 27 February 2019

______________________________________________________________________________ 126 Eastern Caribbean Central Bank