FISCAL SUMMARY Ministry of Finance and Energy Ministry of Economic Development, Planning, Trade and Cooperatives 1.Revenue collection performed well relative.

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Presentation transcript:

FISCAL SUMMARY Ministry of Finance and Energy Ministry of Economic Development, Planning, Trade and Cooperatives 1.Revenue collection performed well relative to projections ($256.5M compared with target of $237.6M). 2.Grant receipts lagged behind (Collections of $27.5M compared with $37.5M). 3.Current spending was $240.9 million ($18.4 million less than target – backpay included). 1.Capital expenditure reached $80.3 million (38% of target).

REVENUE BY MAJOR TAX TYPES Ministry of Finance and Energy Ministry of Economic Development, Planning, Trade and Cooperatives Revenue Category (Details) January to June 2014 Actual (EC$mn) January To June 2013 Actual (EC$mn) Variance (EC$mn) Taxes on Income & Profits$45.4 m$30.9 m$14.5 m Taxes on Property$14.2 m$9.6 m$4.6 m Taxes on Goods & Services$51.9 m$49.3 m$2.6 m Taxes on International Transactions$108.9 m$94.0 m$14.9 m Non Tax Revenues$36.1 m$45.9 m($9.8 m) Total Current Revenue$256.5 m$229.6 m$26.9 m

REVENUE COLLECTION BY MAJOR DIVISIONS Ministry of Finance and Energy Ministry of Economic Development, Planning, Trade and Cooperatives Jan to June 2014 (Target) Jan to June 2014 (Actual)% of Target Customs & Excise Inland Revenue Other Total Revenue

RECURRENT EXPENDITURE BY CATEGORY Ministry of Finance and Energy Ministry of Economic Development, Planning, Trade and Cooperatives Jan to June 2014 (Target) Jan to June 2014 (Actual) Var. ($m) Personal Emoluments Wages & Salaries Allowances Goods & Services Interest Payments Transfers & Subsidies Total

Ministry of Finance and Energy Ministry of Economic Development, Planning, Trade and Cooperatives Summary