Durrant Pate/Contributor

Government revenue collections for April to November 2023 was J$1.17 billion below projections, standing at J$562.26 billion for the period.

While this out-turn is below projection, it represents an actual increase of approximately 14.4 per cent relative to the J$491.31 billion recorded for the corresponding period in 2022. There was zero ‘Capital Revenue’ collection for the period in accordance with the budgeted amount.

Conversely, ‘Bauxite Levy’ amounted to J$837.70 million, relative to the budgeted amount of J$851.60 million. ‘Grants’ closed on J$4.71 billion, which is J$2.26 billion less than the budgeted amount.

‘Tax Revenue’ ended the period at J$512.23 billion, which is J$872.90 million more than the budgeted amount. ‘Non-Tax Revenue’ amounted to J$44.48 billion, which is 0.5 per cent higher than the budgeted amount.

Expenditure out-turn

Total Expenditure for April to November 2023 amounted to J$598.84 billion, which is J$9.47 billion less than the budgeted amount of J$608.31 billion. Recurrent Expenditure, which totalled J$567.64 billion, accounted for 95 per cent of overall expenditures.

The category under ‘Recurrent Expenditure’ for the review period that exceeded the budgeted amount was ‘Interest’, which amounted to J$111.96 billion (+J$1.89 billion). However, the ‘Programmes’ category, which totalled J$184.85 billion, is below the budgeted amount by J$7.24 billion.

The ‘Compensation of Employees’ category, which closed on J$270.83 billion, is below the budgeted amount by J$2.44 billion. Capital expenditure amounted to J$31.19 billion, which is J$1.68 billion below the budgeted amount.

The ‘Fiscal Deficit’ closed on J$36.57 billion, relative to a ‘Projected Deficit’ of J$44.88 billion. Additionally, the ‘Primary Surplus Balance’ for the period amounted to J$75.39 billion, relative to the ‘Budgeted Primary Surplus Balance’ of J$65.20 billion.