SVG

Fiscal out turn in Q1 better than in 2012

KINGSTOWN, St. Vincent, May 17, IWN – This country’s fiscal situation during the first quarter (Q1) of 2013 improved year-on-year, but Prime Minister Dr. Ralph Gonsalves has told Parliament that preliminary figures show a deterioration in April.

“On the face of it, for the first three months, we have an improvement in the fiscal situation. But, I have seen the preliminary numbers, which have not been confirmed to me yet in relation to April, and I see a deterioration in April,” Gonsalves said on Thursday.

“Of course, those who are familiar with the government finances [know] while it is important to keep your monthly tracks, sometimes [there are] some reportage issues and so on and so forth,” he further said in response to a question from Opposition Leader, Arnhim Eustace.

Gonsalves, who is also Minister of Finance, said that in Q1 of 2013, total revenue and grants amounted to EC$114.5 million, compared to $104.5 million during the same period of 2012.

Current revenue this year was $101.1 million a slight improvement over 2012, when the figure was $100.9 million.

Capital revenue and grants in Q1 amounted to $13.4 million compared to $3.7 million, year-on-year.

Total expenditure, stood at $118.5 million, a 5.1 per cent increase over the 2012 figure — $112.8 million.

Meanwhile, recurrent expenditure stood at $110.6 million, while in Q1 of 2012 it was $112 million, a decline of 1.2 per cent.

But Gonsalves told legislators that while there was a decline in recurrent expenditure in Q1, personal emoluments had risen 3.4 per cent, 10.5 per cent more was spent on wages and salaries, and pensions had spiked 15.5 per cent.

Capital expenditure had risen sharply to $7.9 million, up from $736,000 in Q1 of 2012.

“Capital expenditure is doing much better so far,” the Prime Minister commented.

The current balance this year, while like Q1 of 2012 registering a deficit, showed some improvement.

This year, the figure is a deficit of $9.5 million, compared to a deficit of $11.1 million in 2012.

The overall deficit in 2013 ($8.1 million), however, was larger than in 2012 ($4.04 million).

“As the number will show, we are not out of the woods yet,” Gonsalves said, using what has become a common refrain when presenting the fiscal outturn.

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Discussion

4 thoughts on “Fiscal out turn in Q1 better than in 2012

  1. SORRYEEEEEEEEEEEEEEEEEEEE I don’t believe a word of it, since you told us you sometimes tell lies, how are we to judge if this is a lie, a half lie, a half truth or the truth.

    Do not consider it proof just because it is written in books, for a liar who will deceive with his tongue will not hesitate to do the same with his pen.
    Miamedes.

    Posted by peterbinose | May 21, 2013, 11:09
  2. Someone get Peter’s MEDICATION for him, because he starts DELUDING himself once more.

    Aye Peter PAN, I bet you had no PROBLEM PROPAGATING the LIE of 4 CONSECUTIVE YEARS of NEGATIVE GROWTH PRATTLED about in SVG for close to a YEAR by Arnhim “chicken neck juice” Eustace and the NDP.

    That said; Kenton’s BLOG is becoming more of a JOKE because he has Peter writing opinion pieces that are downright LAUGHABLE.

    I guess Kenton doesn’t care if anyone takes his blog seriously.

    Posted by VINCYPOWA | May 21, 2013, 13:03
  3. NANCYPOWA, make sure you make a full report to your extreme leader. By the way are you admitting that your ‘boss man master’ is a liar. Because you omitted that in your reply and put up another smoke screen in place of a truthful answer.

    Its no good attacking Kenton Chance, I can understand that you see him as the enemy, but to normal people he is not, he is a very professional journalist several times your superior, running a superior news service. Unlike you, he is not a nasty collaborator or slave to anyone.

    What opinion piece are you referring to, can you show that any part of what I wrote is untrue?

    I know that the truth must be really annoying for you to try and reverse, but you have a paid job to do.

    It seems to be this that set you off attacking everyone with your usual falsehoods.

    ” SORRYEEEEEEEEEEEEEEEEEEEE I don’t believe a word of it, since he told us he sometimes tell lies, how are we to judge if this is a lie, a half lie, a half truth or the truth.

    “Do not consider it proof just because it is written in books, for a liar who will deceive with his tongue will not hesitate to do the same with his pen”.
    ‘Moses Maimonides’ “

    Posted by peterbinose | May 22, 2013, 07:29
  4. VINCYPOWA, usted abastecedor de mierda, I myself could well imagine that the negative growth was for 5 or more years, I would require some forensic accounting before I believe any figures put forward by this regime. And I certainly believe nothing put forward by you, because you hide behind a false name and tell lies on a continual basis.

    Isn’t Spanish such a lovely language, by the way you never commented on the Cuban chef, why was that?

    Posted by peterbinose | May 22, 2013, 08:06

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