ST GEORGE’S, Grenada – The Ministry of Finance says during the first quarter of this year, the country earned more revenue and grants than what was projected in the budget.
The projection was for EC$342.2 million but records from the Ministry of Finance have revealed that the actual revenue and grants collected was EC$371.8 million.
At the same time total expenditure for the period was EC$267.1 million which is less than projected.
The fiscal report for the first quarter shows that the projected expenditure was EC$316.6 million. The Citizenship Investment by Investment program’s actual revenue for the first quarter was EC$117.3 million but the projection was for EC$95.9 million.
According to the latest data from the Ministry of Finance. Grenada earned more than EC$1 billion in revenue through the CBI programme for 2023.
The fiscal report ending March 2024 shows that tzex0 on properties, goods and services increased significantly while there was a reduction in income tax and profits, and international transactions.
In addition, revenue from properties was EC$15.4 million which more than doubled the amount projected.
