Advertisement

LIVE STREAMS

MESSAGE

LIVE STREAMS

MESSAGE

Advertisement

LIVE STREAMS

MESSAGE

Advertisement

Finance Minister, Colm Imbert Presents Mid-Year Budget Review.

by | May 13, 2019

  • Minister Imbert announced a three-month tax amnesty, from mid-June to mid-September, ahead of the implementation of the Revenue Authority.

 

  • Expenditure for the first half of 2019 was $2.55 billion lower than projected.

 

  • Revenue was $706 million above estimates for first 6 months of the year.

 

  • Original deficit for 2019 was $4.05 billion for purposes of administration and was to be deficit of $5.11 billion for first 6 months. Deficit turned out only $1.5 billion for first 6 months of the year.

 

  • Assets in the Heritage and Stabilisation Fund stand at an all-time high of $6.1 billion.

 

  • Public sector debt stabilised by 62% of GDP in 2018, well below established benchmarks.

 

  • Minister Imbert intends to grant approval to the THA to raise loan financing on the local market in sum of $300 million for a number of developments of sister isle, health, housings, sporting activities, coastal erosion and ICT project.

 

  • Caribbean Airlines achieved profitability 2018.

 

  • The Valencia to Toco highway is now at advanced stage of design completion and environmental impact assessment.

 

  • Government recovers $1 billion from The San Fernando to Pt Fortin highway project.

 

  • Inflation remains at very low levels at 1% in 2018, economic adjustment has minimised impact on population.

 

  • Revival of growth now established and expected to stabilised 2% annually by 2021.

 

  • Minister Imbert quotes Central Statistical Office report of 3 consecutive quarters of economic growth.

 

The Mid-Year Review for fiscal year 2019 is being presented in the House of Representatives by Minister of Finance, Colm Imbert.
A review of the performance of revenue and expenditure for the first six months of the fiscal year will be made.

0 Comments