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Government financial performance trending above estimates

 

THE VALLEY, ANGUILLA The Government of Anguilla is enjoying a very good financial performance with interim half year results showing a recurrent surplus of EC$25.9m.

For the six-month period to the 30thJune, recurrent revenue was $126.7m whilst the estimate for the same period was EC$112.06, a positive variance of 13.06%.  The year on year (y-o-y) comparison with the half year position in 2018 shows an increase in revenue collections of 29.08%.  The key drivers were property tax, accommodation tax and customs duties.

Recurrent expenditure for the six month period was $100.80m against an estimate of $103.28m and was virtually in line with the budget whilst yielding a positive variance of $2.48m.  The y-o-y comparison with 2018 shows an increase in expenditure of 6.39% and the key contributors to the y-o-y expenditure increases were interest charges and payments for goods and services. 

The Ministry of Finance whilst happy with the outturn to date remain cautiously optimistic about the outlook for the full year 2019. The recurrent revenue for the full year is EC$208.36m whilst recurrent expenditure is EC$213.48, a projected deficit of EC$5.12m.

 

 

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